Friday, April 13, 2007

PPR Holds Steady On Puma Bid

Just as Puma shares rose with talk of a takeover bid by PPR, France's biggest clothing retailer, they dropped after PPR stated that they wouldn't up their offer. Most analysts seem to think that some sort of compromise will be met in the near future, so don't fret you French-loving, Puma-wearing hipsters. Of one thing Puma CEO Jochen Zeitz seems almost sure: a rival bid is "very unlikely." I guess that means that the Swoosh is not going to be looking to spend money in Germany any time soon.

PPR's Pinault Won't Sweeten Takeover Offer for Puma [Bloomberg]


No comments: