PPR approved for PUMA takeover

PARIS According to PPR, European and American competition authorities have approved its takeover of PUMA. PPR offered to take control of PUMA on May 14 following the acquisition of a 27.1% stake in PUMA's capital on April 10.

The current takeover offer, at $392.86 per share, is fully supported by the PUMA management and supervisory board and expires on June 20.