Mascot Bidco Oy receives required authority approval for Amer Sports shares
The consortium known as Mascot Bidco Oy has announced it has received all required authority approvals for its voluntary public recommended cash tender offer for all the shares in Amer Sports Corporation.
Announced in a stock exchange release, the consortium confirmed it has received the required approval for completion of the tender offer from the Federal Economic Competition in Mexico. Mascot Bidco Oy recently announced it has also received authority approvals from the Foregin Investment Review Board in Australia, the European Commission in the EU, the Turkish Competition Authority in Turkey, the State Administration for Market Regulation of People’s Republic of China and the Federal Anti-Monopoly Service of Russia.
The Competition Bureau in Canada has also completed its review process, while the relevant Hart-Scott-Rodino waiting period in the US has expired. The stock exchange release stated: “As the Offerer is not aware of any other authority approvals that are necessary to complete the tender offer, the condition to completion of the tender offer concerning the receipt of authority approvals has thus been satisfied.”
According to the statement, the completion of the tender offer is still subject to the, “satisfaction or waiver by the Offeror of certain other conditions on or prior to the Offeror’s announcement of the final results of the tender offer including, among others, the Offeror having gained control of more the 90% of the issued and outstanding Amer Sports shares and voting rights.”
Mascot Bidco Oy is an investor consortium that is currently aiming to acquire Amer Sports. It is formed by ANTA Sports, FV Fund (FountainVest Partners), Anamered Investments and Tencent Holdings (which will invest through Mount Jiuhua Investment as a limited partner in FV Fund).
The acceptance period of the tender offer commenced on 20th December and, as a result of the extension announced on 21st February, the period will expire on 7th March at 4pm Finnish time.
Amer Sports’ brand portfolio currently includes Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, ENVE, Suunto, Wilson and Precor.
