China’s Anta Sports and Li Ning Exploring Bid for Puma

Chinese sportswear firms Anta Sports Products and Li Ning are among those exploring a potential takeover of struggling German sportswear brand Puma, a source with knowledge of the matter told Kane Wu of Reuters.

Puma shares are up 15% but down more than 50% year-to-date. (Photo: PUMA Facebook)

Both Hong Kong–listed firms are evaluating a bid, but a halving of Puma's market value this year makes it difficult to agree on a valuation with Puma's biggest shareholder, Artemis, the privately owned holding company that controls Gucci owner Kering, the source said.

Puma shares are up 15% but down more than 50% year-to-date, Reuters reported, and the fall in value makes accurate valuation difficult. Japan’s ASICS is also listed as a potential bidder.