Puma Shares Surge On Takeover Speculation Involving Anta Sports, Li Ning, And Asics

(RTTNews) - PUMA SE shares surged about 13% in Thursday trading on the XETRA exchange after reports suggested that China's Anta Sports is among several firms considering a bid for the German athletic brand. Bloomberg noted that Puma could also draw interest from Chinese apparel company Li Ning and Japan's Asics Corp, citing unnamed sources.

The company's largest shareholder is Artemis, which currently holds a 29% stake. Artemis, the holding company of France's Pinault family and also the biggest shareholder of Gucci-owner Kering, has been actively spending in recent years, leading to a sharp rise in its debt levels. According to Bloomberg, Artemis' valuation expectations for Puma may prove to be a significant obstacle to any potential deal.

Puma SE on the XETRA exchange was trading at €19.31, up €2.31, or 13.55%.