Analysts say that billionaire French investor François Pinault may have to up his €5.3 billion bid for sports goods manufacturer Puma.
Analysts warn that the bid, which has been welcomed by the Puma board as a ‘fair’ offer, leaves Pinault open to rival bids for the 27.1-per-cent-stake in the company.
PPR, Pinault’s company, has offered €330 per share. Rival sporting goods manufacturer Nike is thought to be a threat, although Puma refuted talk of a Nike bid, saying that there had been no contact with the group.
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