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Peloton shares jump on reports of possible Amazon deal

NEW YORK (AFP) – Shares in at-home fitness company Peloton jumped on Friday evening in extended trading on Wall Street amid reports of the company’s potential takeover by e-commerce giant Amazon.

Shortly before 8pm, Peloton shares surged 26.42 per cent, to USD31.10.

Several American media reported on Amazon’s interest in Peloton, which has struggled to maintain growth amid easing COVID-19 restrictions. “Amazon has been speaking to advisers about a potential deal,” the Wall Street Journal reported on Friday, citing sources.

It added, however that “there’s no guarantee the e-commerce giant will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive”.

There are other potential buyers, the business newspaper said, but no deal is imminent.

File photo shows Peloton CEO John Foley celebrating at the Nasdaq MarketSite before the opening bell and his company’s IPO in New York. PHOTO: AP