Amer Sports Corp. in a statement that its shareholders had provided overwhelming support for its merger with a consortium led by China’s Anta Sports.
The consortium, named Mascot Bidco Oy, on December 20, 2018 commenced a voluntary public cash tender offer recommended by the Board of Directors of Amer Sports to purchase all the issued and outstanding shares in Amer Sports that are not held by Amer Sports or any of its subsidiaries. The acceptance period of the Tender Offer commenced on December 20, 2018 at 9:30 a.m. (Finnish time) and, following an extension announced on February 21, 2019, the acceptance period expired on March 7, 2019 at 4:00 p.m.
Amer Sports said that Mascot Bidco Oy has indicated that preliminary results show 94.4 percent of all the shares and votes in Amer Sports (excluding shares held by Amer Sports or any of subsidiaries) had been tendered.
Providing the final results of the Tender Offer confirm that the shares tendered into the Tender Offer represent more than 90 percent of all the outstanding shares and votes in Amer Sports and all other conditions are met, Mascot Bidco Oy “will complete the Tender Offer in accordance with its terms and conditions,” according to the statement.
Mascot Bidco Oy includes Anta Sports Products Limited; FV Mascot JV, L.P., an investment vehicle managed by FountainVest Partners; and Anamered Investments Inc., an investment company owned by Lululemon founder Chip Wilson.
Amer Sports’ portfolio of brands includes Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, ENVE, Suunto, Wilson and Precor.
