Plus   Neg

Anta Sports-led Group Offers To Buy Amer Sports For EUR 4.6 Bln

A consortium led by China's Anta Sports Products Ltd. has offered to acquire Finland's Amer Sports Corporation in a deal that values the company at 4.6 billion euros.

The consortium, which includes Chinese tech giant Tencent Holdings Ltd and the Canadian billionaire founder of athletic-apparel retailer Lululemon Athletica Inc Chip Wilson, has offered 40.00 euros per share in cash for Amer Sports.

The offer price represents a premium of 39 percent compared to the closing price of Amer Sports shares on September 10, 2018.

After the completion of the Tender Offer, the Investor Consortium plans for Amer Sports to be operated independently from ANTA Sports, with a separate Board of Directors. The Investor Consortium has invited Mr. Heikki Takala (President and CEO of Amer Sports) and his key executives to continue leading the business.

The Investor Consortium currently expects to retain Amer Sports' corporate head office in Helsinki after the completion of the Tender Offer.

The Board of Directors of Amer Sports has decided to unanimously recommend that Amer Sports' shareholders accept the Tender Offer.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. (AAPL) said it doesn't expect to meet its revenue guidance for the second quarter due to lower smartphone demand, and temporary work slowdowns related to coronavirus outbreak in China. Textron Specialized Vehicles recalled 20,573 units of Gas-powered E-Z-GO, Cushman and Tracker brand off-road vehicles for possible fire hazard, a statement by the U.S. Consumer Product Safety Commission said. The company said starter generator wire can be improperly secured, allowing it to come into contact with the vehicle's exhaust that could cause a fire hazard. Delta Air Lines Inc. said Friday that it will invest $1 billion over the next decade to mitigate all greenhouse gas emissions from its global business, starting March 1, 2020. The company intends to become the first airline in the world to go carbon neutral. The airline said that over the next decade, it will spend $1 billion to drive innovation and advance clean-air travel technologies.
Follow RTT