Puma shares soar nearly 19% on acquisition rumors

German sportswear manufacturer Puma surged in the stock market this Thursday by almost 19% due to acquisition rumors by the Chinese company Anta Sports and also the interest of other companies such as the also Chinese Lin Ning and the Japanese Asics. Puma’s shares rose 18.9%, to 20.22 euros, on the Frankfurt Stock Exchange at the close of trading. Anta Sports hinted at an offer for Puma, according to financial information agency Bloomberg.

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Anta Sports also owns the Fila brand of sportswear and footwear, and Jack Wolfskin, which offers clothing and footwear for outdoor activities such as hiking and mountaineering. Bloomberg also reported in late August that the French Pinault wanted to sell its stake in Puma of approximately 30% and Puma shares soared. The magazine “Manager Magazin” said that the financial investor CVC and the American brand manager Authentic Brands Group were interested in Puma and its stock price also soared. But in mid-November, Puma’s shares fell to their lowest level since the beginning of 2016 because no company has yet submitted an offer.