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Volume 7 No. 149
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Lululemon Founder Reportedly Close To Joining Bid For Amer

The Canadian founder of yoga-apparel retailer Lululemon Athletica Inc., Chip Wilson, is "close to joining the Chinese investor group pursuing a takeover of Amer Sports Oyj, people familiar with the matter said," according to Baigorri, Chan & Poh of BLOOMBERG. Wilson is in talks to take around a 20% stake as part of the consortium led by Anta Sports Products Ltd., the sources said. The buyer group and Helsinki-based Amer "could announce a takeover agreement as soon as the next few weeks." The sources added that Tencent Holdings has been discussing joining the Anta consortium with a stake of roughly 5-10%. Negotiations are ongoing, and "precise terms" could reportedly change. Shares of Amer surged as much as 9.7% -- the most since Sept. 11 -- before trading up 7.2% to €35.44 ($40.19) as of 1:26pm in Helsinki (BLOOMBERG, 12/3).