Wilson Sporting Goods maker gets $5.3B offer from Chinese firm

By MarketsFOXBusiness

(AP Photo/Peter Morgan)

The makers of Wilson tennis rackets may soon have a Chinese owner.

Continue Reading Below

Finland's Amer Sports has received a $5.3 billion takeover approach from China's Anta Sports and private equity firm FountainVest.

The Helsinki-based maker of Salomon hiking boots and Arc'teryx outdoor clothing saw its shares rise than 25 percent, according to Reuters.

The offer represents a nearly 40 percent premium to Monday's closing price.

Amer's largest shareholder, Finnish pension fund KEVA, declined to comment on the approach by Anta, which sells the Fila and Descente brands.

The Anta-FountainVest consortium had indicated that a deal was subject to conditions including the approval of investors holding at least 90 percent of its shares.

The Chinese consortium aims to submit an offer to Amer in the coming weeks and finalize the buyout deal by the end of the year, a source familiar with the matter told Reuters.