(Boursier.com) — Platoon , which has been the subject of takeover rumors for weeks, would cut around 2,800 jobs or 20% of its corporate workforce, according to the Wall Street Journal, which adds that the group intends to reduce its annual costs by nearly $800 million. . Peloton also wants to cut $150 million in capital spending. The group would have abandoned its plans for a new factory in Ohio. Finally, John Foley, the group’s criticized managing director, is stepping down to become executive chairman. Barry McCarthy, former CFO of Spotify and Netflix, will become the new CEO. A reorganization of the board of directors is also on the agenda.
The title jumped 20.9% last night on Wall Street with the rumors. Peloton Interactive, an American firm specializing in exercise equipment, known for its stationary bikes and connected treadmills, had been one of the big stock market stars of the confinements. Between March 2020 and December 2020, its price had multiplied by six, before losing all of its rise. According to the Wall Street Journal, citing sources, Amazon in person would have met with advisers in view of a possible offer on Peloton. The group of Jeff Bezos and other potential buyers would therefore explore the possibility of a deal. Peloton faces pressure from an activist investor, who asks him to consider such a transaction. Blackwells Capital, which has a large but less than 5% stake in Peloton, believes that technology or fitness companies could be interested in acquiring the exercise bike maker.
According to the Financial Times, Nike would also evaluate an offer on Peloton. The FT cites sources as saying valuations for Amazon and Nike are at a preliminary stage, with neither company having yet spoken with Peloton. The Financial Times notes that people familiar with the matter add that other potential buyers are likely to emerge, perhaps even Apple and major private equity firms.
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