The world’s leading footwear designer, Nike (NKE), has been rumored by the London Times to be reviewing an acquisition ofUnder Armour (UA). Nike currently has over $4.5B in cash with $663B in debt while the enterprise value of Under Armour is currently trading at $3.6B, or a pricey 22.8x EBITDA.

Since September 15 of last year, UA has gone up 88.6% and has strong growth prospects. Consensus estimates for EPS growth for the possible target are 34.3% to $1.80 in 2011 and 25.6% and 28.3% for the following two years. Read the rest of the story at Citybizlist.