Puma shares surge on report CVC, Authentic Brand mulling bid.
Shares in Puma surged almost 17% on Wednesday after a report that two investors were preparing a takeover bid for the German brand.
Source: Sharecast
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.
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