×

Anta Makes Takeover Bid for Amer Sports

Amer Sports Corp., the parent company to footwear brands Salomon and Arc’Teryx, confirmed today that it received a takeover bid from China-based Anta Sports Products Ltd. and private equity firm FountainVest Partners.

However, the Finland-based sporting goods company also stated its not “engaged in any negotiations” with the Anta and FountainVest Partners to acquire its entire share capital and has not yet made a decision concerning the indication of interest.

Several reports have stated the offer from Anta and FountainVest was worth 4.6 billion euros ($5.3 billion).

Following the announcement, Amer Sports’ stock surged on the news. As of 10:30 a.m. ET, the shares — trading on the Nasdaq Helsinki stock exchange — had climbed roughly 18 percent.

According to a statement from Amer Sports, the offer is subject to a number of conditions, including the conducting of a due-diligence investigation, the approval of Anta’s board of directors and FountainVest’s investment committee, the availability of financing from identified financing sources and receipt of a recommendation from Amer Sports’ board of directors.

Watch on FN

The company also stated that a potential transaction would need to be approved by shareholders who hold at least 90 percent of its shares.

Aside from Salomon and Arc’Teryx, other sports-related brands under Amer Sports include Wilson, Peak Performance, Precor, Sports Tracker and Armada Skis.

Want more?

5 Outdoor Footwear Trends for Spring ’19 to Keep an Eye On

This New Socklike Shoe Technology Helps Keep Feet Dry and Comfortable

6 Best Shoes From 2018 Outdoor Retailer’s Top Brands Before They Arrive in Stores

Photo of children playing after receiving Sponsored By Soles4Souls

Helping Millions Find Their Footing

In an incredibly challenging year, Soles4Souls has continued to create sustainable jobs and provide relief in 2020.
Learn More

Access exclusive content