Anjos, FernandoJanuário, Valentim Montes2025-04-022025-04-022025-01-242025-01-22http://hdl.handle.net/10362/181820The athletic footwear industry is at a dynamic crossroads, with innovation and consumer engagement reshaping market leaders. This thesis explores the potential acquisition of On Holding by Nike Inc., focusing on the strategic and financial rationale behind the deal. On Holding rapid market share growth and cutting-edge innovation contrast with Nike’s recent challenges, presenting a compelling case for synergies. Through detailed valuation models and synergies projections, it is estimated the potential value creation of merging On’s technological edge with Nike’s global infrastructure. Ultimately, a comprehensive rationale and quantitative analysis is provided, showcasing how this acquisition could restore Nike’s leadership position.engFootwearValuationSportswearSynergiesNike IncOn Holding AGInnovationMergers & Acquisitionsmaster thesis203926684