China’s Anta Sports Products has offered to buy 29% of German sportswear firm Puma from France’s Pinault family, three sources told Reuters. Anta made the offer weeks ago and secured financing, though talks have stalled. Artemis, the Pinault family holding company, expects offers to exceed 40 euros ($46.58) per share. Puma shares rose 9% after the report, trading at 24.6 euros. Puma’s market capitalization was 3.3 billion euros ($3.85 billion) at Wednesday’s close, down around 50% from last year amid steep sales declines. Hong Kong-listed Anta has a track record of acquiring Western sports brands, including leading a consortium to buy Amer Sports in 2019.

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