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(Sharecast News) - Shares in Puma surged on Thursday after a report that China's Anta Sports was among firms exploring a potential takeover the German sportswear and equipment maker.
Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, Bloomberg reported, citing unnamed sources, adding that the company may team up with a private equity firm if it decides to move forward with an offer. Shares in Puma were up more than 13% in Frankfurt trade.
Other potential bidders could include rival Chinese apparel firm Li Ning Co, the sources were reported as saying.
Li Ning, named after the famous gymnast who founded the firm, has been discussing financing options with banks as it takes an early look at Puma, the people said. Puma may also attract interest from sportswear companies such as Japan's Asics Corp, the report added.
Deliberations were reportedly in early stages. Puma's biggest shareholder is France's billionaire Pinault family with its Artémis holding company owning 29%.
Anta - which owns brands including Fila and Jack Wolfskin - has gained 9% in Hong Kong trading this year, giving the company a market value of nearly $31bn. An Anta-led consortium, which also included Asian buyout firm FountainVest Partners, paid $5.2bn in 2019 to acquire Amer Sports, the owner of brands like Salomon and Arc'teryx.
Reporting by Frank Prenesti for Sharecast.com
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