Shares in Amer Sports jumped by as much as 14 percent on speculation Tuesday, ahead of the company confirming it had received a non-binding buyout offer from a Chinese investment firm and Chinese competitor Anta Sports Products Limited, according to the Bloomberg news outlet. Trades of Amer Sports shares were temporarily halted on Tuesday morning.
An unnamed source told Reuters news agency the possible buyout could be valued at up to four billion euros.
Amer Sports confirmed the Chinese conglomerate's offer in an exchange filing issued on Tuesday, however, the firm said it has made no decisions on whether it plans to go ahead with the deal.
"In response to media speculation, Amer Sports Corporation confirmed that it had received a non-binding preliminary indication of interest from a consortium comprising Anta Sports Products Limited and the Asian private equity firm FountainVest Partners to acquire the entire share capital of Amer Sports," the company wrote in a press release.
The Helsinki-based Amer Sports said its shareholders would be entitled to a 40 euro-per-share cash consideration for all of their shares in the company.
Anta Sports is China's largest sports gear company which develops, manufactures and markets sports footwear, apparel and accessories, with a market value of about 12.5 billion euros.
Amer Sports owns rights to many popular international sporting brands like Atomic, Suunto, Wilson, Louisville Slugger baseball bats and Salomon, with an estimated market value of around 3.7 billion euros.
Amer -- which began as a tobacco company in 1950 -- also owns the rights to brands including Arc'teryx, Mavic and Precor.