Chinese Group Looks to Buy Amer Sports
December 10, 2018
A consortium led by China’s Anta Sports made an offer to acquire Finland’s Amer Sports in a deal that values the company at 4.6 billion euros (US$5.23 billion), the Chinese firm said on Friday.
According to Reurters, the consortium, which includes Chinese tech giant Tencent Holdings Ltd , has offered 40 euros per share in cash for the maker of Wilson tennis racquets and branded outdoor gear.
The deal represents a premium of 13.6 percent to Amer’s last close and has been unanimously recommended by the board of the Helsinki-based firm.
The consortium plans to operate Amer Sports independently from Anta, with a separate board of directors, Anta said in a statement.
Shareholders representing in aggregate about 7.91 percent stake in Amer Sports have already accepted the deal, it added.
Others in the consortium include Chinese private equity firm Fountainvest Partners and Anamered Investments, which is owned by Canadian billionaire Chip Wilson, founder of yoga apparel company Lululemon Athletica Inc .
Reuters on Thursday reported that Amer Sports is close to signing a 4.6 billion euro deal to be taken over by a consortium led by Anta Sports, citing a person with direct knowledge of the transaction.