Lyon released a research report stating that it maintains Anta Sports' “outperform the market” rating and target price of HK$110 and lists it as the preferred stock. Anta Sports announced on October 7 that it has completed the acquisition of 29.06% of Puma's shares for 1.51 billion euros, becoming its largest shareholder. The transaction valuation corresponds to the 2027 forecast ratio of about 0.8 times the corporate value to sales ratio and about 0.7 times the 2025 market-sales ratio. Anta is expected to secure two seats on the Puma Supervisory Board, as Chairman and Vice Chairman respectively, but it will not directly manage day-to-day operations, nor will it fully control or merge Puma.

Lyon released a research report stating that it maintains Anta Sports' “outperform the market” rating and target price of HK$110 and lists it as the preferred stock. Anta Sports announced on October 7 that it has completed the acquisition of 29.06% of Puma's shares for 1.51 billion euros, becoming its largest shareholder. The transaction valuation corresponds to the 2027 forecast ratio of about 0.8 times the corporate value to sales ratio and about 0.7 times the 2025 market-sales ratio. Anta is expected to secure two seats on the Puma Supervisory Board, as Chairman and Vice Chairman respectively, but it will not directly manage day-to-day operations, nor will it fully control or merge Puma.