Puma Shares Jump on China Bid Chatter
Puma shares surged 7% in Frankfurt after reports that China's Anta Sports is considering a bid for the German brand, possibly with private equity involvement. Li Ning and a Japanese company are also exploring interest. This follows Puma's recent turnaround plan and job cuts amid industry and economic challenges. The takeover speculation has reignited investor interest in Puma.
Puma (PMMAF) stock suddenly sprang to life after reports said China's Anta Sports is thinking about making a run at the German athletic brand.
Bloomberg says Anta is working with an adviser to size up a possible offer and could even bring in a private equity partner if it gets serious. Investors didn't need much convincing. Puma shares jumped about 7% in early Frankfurt trading as deal speculation picked up speed.
Anta may not be alone in kicking the tires. The report also said Li Ning, another heavyweight from China's sportswear industry, has been chatting with banks about financing while exploring its own interest in Puma. There's even talk that a Japanese company could step into the picture.
This sudden excitement comes after a difficult stretch for Puma. The company rolled out a turnaround plan in October and announced job cuts, warning that both industry pressures and a shaky global economy could weigh on business through 2025. takeover buzz often changes how investors look at a struggling brand. Puma is back in the spotlight, but it is still just talk for now.
