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China's Anta Sports-led group buying Finland's Amer Sports for $5.2 billion


(Reuters) - A consortium led by China's Sports made an offer to acquire Finland's Sports in a deal that values the company at 4.6 billion euros ($5.23 billion), the Chinese firm said on Friday.

The consortium, which includes Chinese Tencent Holdings Ltd, has offered 40 euros per share in cash for the maker of Wilson tennis racquets and branded outdoor gear.

The deal represents a premium of 13.6 percent to Amer's last close and has been unanimously recommended by the board of the Helsinki-based firm.

The consortium plans to operate Sports independently from Anta, with a separate board of directors, said in a statement.

Shareholders representing in aggregate about 7.91 percent stake in Sports have already accepted the deal, it added.

Others in the consortium include Chinese private equity firm and Anamered Investments, which is owned by Canadian Wilson, of yoga apparel company Lululemon Athletica Inc.

on Thursday reported that is close to signing a 4.6 billion euro deal to be taken over by a consortium led by Sports, citing a person with direct knowledge of the transaction.

($1 = 0.8790 euros)

(Reporting by Aditya Soni in Bengaluru; Editing by Muralikumar Anantharaman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 15:54 IST