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.
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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.
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