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Amazon and Nike are reportedly eyeing Peloton's exercise bikes

2022-02-06T14:20:02.443Z


The two groups would be interested in this connected fitness star, whose stock market is in free fall.


The action of Peloton climbs on Wall Street in the exchanges following the close of the Stock Exchange (+26%), after the publication of rumors on the takeover of the specialist in exercise bikes and high-end treadmills by the giant Amazon .

Several American media have reported on Amazon and Nike's interest in Peloton, which is going through an unprecedented crisis after being carried by the health crisis and its restrictions.

Read alsoNothing is going well for Peloton, the star of connected exercise bikes

"

Amazon has discussed a potential deal with advisers

," the Wall Street Journal said on Friday, citing close sources, adding that "

there is no guarantee that the e-commerce giant will follow up on an offer or that Peloton, which is working with its own advisers, will be receptive

".

According to the Financial Times, Nike would also look into the Peloton file.

But no discussion has yet been initiated between the two parties.

Other potential buyers are interested but no deal is imminent, according to the business daily, which mentions that if transaction takes place, "

it could be significant, given the market value of Peloton of approximately $ 8 billion, down sharply from its peak of around $50 billion about a year ago

.

Poor post-pandemic management

Activist investor Blackwells Capital recently demanded the immediate departure of Peloton CEO and co-founder John Foley and the sale of the company.

This shareholder accuses John Foley of having deceived investors about Peloton's capital needs, of having been unable to anticipate consumer demand or of having hired his wife for a management role.

He wants the company to be sold to a group specializing in technology, video on demand, metaverse or sports equipment, citing as examples Apple, Disney, Sony and Nike.

Peloton, which is one of the companies that benefited the most from confinements and health restrictions in 2020, did not know how to manage the exit from the pandemic well.

Its stock has fallen more than 75% last year and almost 25% since January.

Faced with falling demand, the group also recently confirmed a “

recalibration of (its) production

”, associated with layoffs.

Its quarterly results are due out on Tuesday.

Source: lefigaro

All news articles on 2022-02-06

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