Motivation and Consequences of Cross-border Mergers and Acquisitions: A Case Study of ANTAs Acquisition of Amer Sports

Against the backdrop of accelerating globalization and changing competition patterns in the sports equipment industry, Chinese sportswear companies are increasingly adopting diversified brand acquisitions and global operational strategies as key ways of internationalization. This article explores the milestone transaction of ANTA Groups acquisition of Amer Sports for 4.6 billion euros, which utilizes cross-border mergers and acquisitions, synergies, and direct-to-consumer marketing theories. Through a multidimensional evaluation framework, this study analyzed the financial performance after the merger and assessed the strategic value and broader impact of the transaction. The research results indicate that ANTA has successfully built a high-end brand portfolio through a unique acquisition trajectory, expanded its international market, and established a multidimensional growth engine. This involves overcoming significant challenges inherent in complex and asymmetric (reverse gradient) cross-border transactions. This case provides important reference value for companies engaged in similar complex international mergers and acquisitions, demonstrating how to address funding bottlenecks, integrate complexity, and strategically reposition to achieve sustainable growth and global competitiveness.