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Finally after 2.5 months since their indication of interest (see initial post) the buyers consortium led by Chinese ANTA has made another step and brought an offer to Amer with the same price of 40eur/share. The price is 38% premium to all time high and 26x P/E and apparently 13.5% (1.4% is indirectly held by ANTA) of shareholders are already in favor of the transaction. The last time I wrote the spread was 14% and it has shrunk to 4% now.