China’s largest domestic sneaker brand and Asian buyout group FountainVest Partners said they would pay €40 per share for the Finnish sports company that is the world’s largest maker of winter sports equipment and a rapidly diversifying company from its equipment roots into apparel and footwear. In confirming the bid following press speculation, its stock rose to €34. Anta has about €1.3 billion in cash and a stock market value of around €10.8 billion. The deal is subject to due diligence, financing, approval of Anta’s board and FountainVest’s investment committee and 90% of Amer shareholders.

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