Tennis - China's Anta Sports Products has made a bid to buy the Wilson tennis racquets used by Serena Williams with the bid being reportedly made for $5.5 billion. Anta has joined hands with buyout firm Fountain Vest Partners to make an offer of 40 Euros or USD 46.50 a share for Finland's Amer Sports, which owns Wilson as well as popular ski brands Salomon and Atomic.
Besides Williams, Roger Federer also uses Wilson's rackets. The statement added that the bid is non-binding and subject to a number of conditions such as a due diligence investigation. Amer Sports has said that is considering the offer which made its shares increase by 19 per cent to 34,20 Euros in the Finnish Stock Exchange.
Chinese brands have been trying to make their presence on the world sporting stage in recent years as China gears up for the 2020 Summer Olympic Games and the 2022 Winter Olympic Games in Beijing.
Anta is involved in the designing, developing, manufacturing and marketing of sportswear, including sports footwear, apparel and accessory under its own brand name, ANTA. It was established in 1994 and it is headquartered in Jinjiang, Fujian.
In 2009, the company acquired the China Operations of Italian sportswear Fila and in 2010, the company acquired the Fila trademark in mainland China, Hong Kong and Macao. The company was also the official apparel sponsor for the Chinese national team at the Rio Olympics.