logo
Plus   Neg
Share
Email

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
AT&T Inc. (T) is exploring a sale of DirecTV, the Wall Street Journal reported citing people familiar with the matter. Meanwhile, other media reports said that AT&T and Dish Network are not in discussions regarding a deal, due to regulatory issues. Toyota Motor Corp. (TM) announced plans to invest $391 million at its pickup truck assembly plant in San Antonio, Texas. The investment is part of the Japanese automaker's plan to invest $13 billion in its U.S. operations over five years through 2021. The company said the investment will be used... Virgin Atlantic is set to challenge British Airways' dominance at London Heathrow as the carrier announced plans to fly to 84 new destinations from the airport when its third runway is opened. Chief Executive Shai Weiss said, "Heathrow has been dominated by one airline group for far too long. The...