Puma
Note: This is a daily stock update and the information stands true as of 27/11/25, 09:00 CET.
Company Update:
Expert Opinion:
This is good news for Puma. We expect that should an agreement be found, the deal is likely to occur at a higher price. We have a buy rating with 25% upside.
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Company Update:
According to Bloomberg, China’s Anta Sports is exploring a potential bid for Puma. Main shareholder Artémis (29% stake) has been looking to separate from Puma for some time, with the decision largely dependent on the price offered.
Anta, with a market cap of €27bn and a strong balance sheet, is a credible bidder. Chinese peer Li Ning also has healthy financial flexibility, raising the likelihood of interest from Chinese buyers. ASICS is mentioned as another potential candidate.
Anta, the world’s third-largest sporting goods group, owns ANTA and FILA and holds major positions in Arc’teryx, Salomon and Wilson through Amer Sports.
Puma, valued at around €2.5bn, has struggled since 2021 amid market headwinds and leadership changes, making it a plausible target. We expect renewed speculation on Puma’s share price this morning.
Expert Opinion:
This is good news for Puma. We expect that should an agreement be found, the deal is likely to occur at a higher price. We have a buy rating with 25% upside.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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