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Puma shares surge on report CVC, Authentic Brand mulling bid
(Sharecast News) - Shares in Puma surged almost 17% on Wednesday after a report that two investors were preparing a takeover bid for the German brand.
Authentic Brands CEO Jamie Salter and private equity firm CVC's German head Alex Dibelius both expressed interest in the 29% stake held by the Pinault family, paving the way for a potential bidding war, German Manager Magazin reported.
Bloomberg reported in August that Artemis was sounding out potential buyers for its roughly $960m Puma stake.
The Pinault family acquired the Puma stake from Kering in 2018 after the luxury goods group sold the shares to focus on its core business.
Reporting by Frank Prenesti for Sharecast.com
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