Amer Sports reported the consortium’s indication of interest on 11 September, and has now confirmed that it has entered in to discussions regarding the bid.
The company further confirmed that, pursuant to the Indication of Interest, Amer Sports shareholders would be entitled to receive a cash consideration of €40 per share for all of their shares in Amer Sports.
The talks between the two parties and their respective advisers are attempting to ascertain whether there is a basis to commence a more formal process to facilitate a possible transaction.
The indication of interest remains subject to a number of pre-conditions, including approval of the Board of Directors of ANTA and the Investment Committee of FountainVest, availability of financing, and a receipt of recommendation from the board of directors of Amer Sports.
Completion of an offer by the consortium would also be subject to acceptance by Amer’s shareholders owning 90% of the shares, as well as other regulatory approvals.
This confirmation comes as a request by Nasdaq Helsinki in response to further media speculation surrounding the bid.