Nike joins Amazon on list of potential Peloton suitors: report
Nike officials have not yet spoken with their counterparts at Peloton, the report stressed
Sports apparel maker Nike is in the early stages of a possible pursuit of exercise bike and treadmill maker Peloton, according to a report.
Nike’s emerging interest was reported by the Financial Times, which stressed that Nike officials have not yet spoken with their counterparts at Peloton.
Previously, e-commerce giant Amazon was reported to be interested in Peloton, according to the Wall Street Journal.
Peloton shares jumped 30% during extended trading based on the reports, Reuters reported.
Blackwells Capital, an investment firm, had urged Peloton’s board to pursue a sale, the Reuters report said. But a source told the outlet that Peloton board members have not yet reached a decision.
A Peloton product.
Peloton has a market value of about $8 billion, far down from about $50 billion about a year ago, according to the Wall Street Journal.
The exercise bike maker suffered a pair of public relations setback in recent weeks when two TV shows – "And Just Like That" and "Billions" – featured characters suffering heart attacks after using Peloton bikes.
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In one case, "And Just Like That" star Chris Noth quickly made a Peloton commercial in what was viewed as a bid by the company to turn the tables – but then Noth became embroiled in a sexual misconduct scandal and the commercial was pulled, as ETOnline.com reported.
