Puma Stock Soars On Chinese Sports Brand Takeover Rumors [Forbes]
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Source: Forbes
Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, according to Bloomberg and could potentially team up with a private equity firm. Puma shares surged nearly 15% in early Frankfurt trading, although they are still down by over half their value in the year to date. Other potential bidders could include rival Chinese apparel firm Li Ning Co., named after the legendary gymnast who founded the company, and Japan's Asics Corp. Anta owns brands including Fila and Jack Wolfskin and its shares have gained around 10% in Hong Kong trading this year, giving the company a market value of $31 billion. Previously, an Anta-led consortium, which also included Asian buyout firm FountainVest Partners, paid $5.2 billion in 2019 to acquire Amer Sports, the owner of brands including Salomon and Arc'teryx. Amer then held an initial public offering in New York last year, with Anta retaing a stake as its biggest investor. The valuation expectations of Puma's biggest s
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