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Nike and Amazon may place bids for the acquisition of Peloton Interactive. The two major American companies are potential buyers for the troubled exercise equipment company.
An insider stated that Jeff Bezos’ Amazon received an offer from Peloton that is struggling to keep its business afloat after being affected by the pandemic and facing various issues. According to CNN Business, the e-commerce retail giant is exploring this offer and is currently talking with advisers to know if it can proceed and how.
Then again, despite the offer, it was said that Peloton has yet to decide if it will consider the sale. Perhaps, the company will make a decision once it receives a good deal.
Aside from Amazon, it was reported that Nike is also weighing up a bid for Peloton. Sources who are familiar with the matter disclosed that the considerations are preliminary at this time, and the footwear company has not held any talks with Peloton yet. The Wall Street Journal was the first to report about potential companies being considered to make a deal with Peloton.
At any rate, the treadmill maker is being pressured by an activist investor, Blackwells Capital LLC, to fire its chief executive officer, John Foley. The investor accused the CEO of holding on to excessive inventory, deals that set high fixed costs, and misleading investors concerning the need to raise capital.
Blackwells Capital also blasted Foley as he hired his own wife to be a key executive in Peloton and signed a 20-year lease for office space in New York. The investor mentioned many other “errors” that the CEO committed, so they want him removed from his post.
Now the investment firm is also urging the board to just sell Peloton. It suggested Walt Disney Co., Apple, Sony Group, and Nike Inc. as the companies that should be considered as potential buyers.
Meanwhile, Peloton’s shares climbed after the reports mentioned Nike and Amazon as possible buyers of the exercising equipment company. The share increased more than 30% in extended trading last Friday, shortly after the report was published. Then again, an insider told CNBC that Peloton is not yet officially running a sales process, but there is real interest in the company.
