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Investing.com-- Puma SE (ETR:PUMG) shares jumped more than 13% on Thursday after Bloomberg reported that China’s ANTA Sports (HK:2020) is among the companies exploring a potential takeover of the German sportswear firm, citing people familiar with the matter.
The Hong Kong-listed firm has been working with an adviser to evaluate a bid for Puma, Bloomberg reported, and may even team up with a private equity firm if it decides to proceed with the deal.
Other potential bidders for Puma could also include rival Chinese apparel firm Li Ning, as well as Japan’s Asics Corp, the report said.
Talks over a deal were still preliminary, the report said, with valuation expectations from Puma’s biggest shareholder, the billionaire Pinault family, presenting a potential hurdle.
Takeover interest in Puma has swirled in recent years, as the German retailer largely fell behind peers in sales and market share. The company has been persistently trying to revamp itself under new CEO Arthur Hoeld.