Rumors of an acquisition cause Puma’s stock to rise by almost 19%

Puma, a German manufacturer of athletic apparel and footwear, had its stock rise by about 19% on Thursday due to reports of a takeover attempt by Anta Sports, a Chinese company, as well as interest from other companies, such as Asics in Japan and Lin Ning in China.

At the end of trading, Puma shares increased 18.9% to €20.22 on the Frankfurt Stock Exchange.

According to Bloomberg, Anta Sports suggested making a bid for Puma. Puma, a German manufacturer of athletic apparel and footwear, had its stock rise by about 19% on Thursday due to reports of a takeover attempt by Anta Sports, a Chinese company, as well as interest from other companies, such as Asics in Japan and Lin Ning in China.

At the end of trading, Puma shares increased 18.9% to €20.22 on the Frankfurt Stock Exchange.

According to Bloomberg, Anta Sports made a suggestion about making a bid for Puma.

Additionally, Puma’s stock price skyrocketed after Bloomberg revealed in late August that French industrialist Pinault intended to sell his roughly 30% share in the company.

Puma’s stock price surged when Manager Magazine revealed that US brand manager Authentic Brands Group and financial investor CVC were interested in the company.

However, because no business had yet to make an offer, Puma’s shares had dropped to their lowest point since early 2016 by mid-November.