Puma takeover is becoming more concrete! Should investors buy Evotec and Silver Viper shares next?

Silver Viper: Buyer already has a foot in the door

The price of silver is simply unstoppable. An ounce now costs around USD 115. At the beginning of 2026, it was just over USD 70. Even if there is a pause for breath, the overall trends remain positive. Silver is not only a precious metal, but also a critical metal. Without silver, electromobility, photovoltaics, and other areas face major problems. The fact that supply is structurally limited has long been ignored by investors. This makes explorers with exciting projects all the more interesting. One of these is Silver Viper Minerals.

The experts at researchanalyst.com have taken a closer look at the Company and come to a clear conclusion: Silver Viper Minerals is more than a classic exploration bet. The combination of high-quality projects, industrial validation by Fresnillo, and experienced management is exceptional. With a market capitalization of less than CAD 180 million, the Company offers investors considerable upside potential if exploration is successful and the precious metals market remains strong.

Silver Viper's three core projects are all located in productive and historically proven precious metal regions of Mexico. Operational efficiency, regulatory experience, and access to existing infrastructure are made possible by the regional focus. Geologically, Silver Viper primarily targets epithermal gold-silver systems and polymetallic structures. These are responsible for numerous Tier 1 deposits in Mexico. And Mexico dominates the global silver market with around 6,300 tons of annual production. Approximately 52,000 meters of drilling have already been completed at the flagship La Virginia project, which has created a solid basis for targeted follow-up programs.

The latest capital measure showed that investors are convinced of Silver Viper's prospects. Approximately CAD 17 million was raised within a short period of time. This will allow the Company to continue to push ahead with exploration. Incidentally, the anchor shareholder is Fresnillo, the world's largest silver producer. This means that a potential buyer already has a foot in the door. Management also has a significant stake of around 15% and is likely to have a strong interest in seeing the share price rise.

Note: For those who would like to learn more about the exciting developments at Silver Viper firsthand, register for the International Investment Forum ii-forum.com on February 25, 2026. CEO Stephen Cope will be presenting live.

Puma: Anta gets involved, but...

After months of speculation, here are the facts. Anta Sports Products Limited is acquiring a 29.06% stake in Puma, subject to the relevant regulatory approvals and the usual closing conditions. The Chinese Anta Group owns various sports brands such as Fila and Jack Wolfskin and is active worldwide. The seller of the Puma shares is Groupe Artémis, the investment company of the billionaire Pinault family. The value of the stake amounts to EUR 1.5 billion. The Chinese group is willing to pay EUR 35 per Puma share. While Puma has not yet commented on the transaction, Anta has published a detailed press release.

Anta Sports sees the investment as a way to accelerate globalization. The aim is to usher in the next chapter of growth for global sports markets, including China, and to create lasting value for consumers and shareholders of both companies worldwide. Anta is looking forward to working with Puma to realize the full potential of the brand.

Anta Chairman Ding Shizhong explained the strategic reasons for the transaction: "Anta has always admired Puma's long-term brand value and potential. Such strong brand DNA and a tradition of values like this are rare to find. We believe that Puma's share price in recent months does not fully reflect the brand's long-term potential. We have confidence in the management team and the strategic transformation. Looking ahead, we hope to build a strong relationship of trust, work together as equals, and leverage our complementary strengths without compromising independence. We look forward to supporting the brand's ongoing revitalization."

Anta Sports is seeking appropriate representation on Puma's supervisory board. Opportunities to further deepen the partnership are being explored, but there are currently no plans for a takeover bid. This is likely also the reason why Puma shares opened at EUR 26 on Tuesday but quickly fell to EUR 22. The stock closed at EUR 23.58, well below the price paid by Anta.

Evotec: The eternal takeover candidate

When it comes to takeover candidates, the name Evotec always comes up. But since the dubious offer at the end of 2024, things have quietened down around the biotech company. Yet Evotec's platform is repeatedly described as attractive for potential buyers. The data and screening ecosystem is considered challenging to replicate and can be easily integrated into AI-supported research.

Evotec is also active in the field of AI itself, as shown by the latest announcement. According to this, the subsidiary Just – Evotec Biologics is receiving funding for the AI-supported optimization of the development potential of monoclonal antibodies to improve affordable access. The funding comes from the Gates Foundation. Evotec plans to improve the developability of monoclonal antibodies and reduce costs. The goal is to prevent infectious diseases in low- and middle-income countries. The new funding will enable ten new J.MD™ projects over the next three years to develop biotherapeutics for various globally relevant health indications.

Even without takeover speculation, RBC at least sees upside potential for Evotec's share price. Analysts have confirmed their "Outperform" recommendation and see the fair value at EUR 10. The stock is currently trading just above EUR 6. In the short term, Evotec is benefiting from Amgen's acquisition of Dark Blue Therapeutics for USD 840 million.
In this context, Evotec could receive around USD 160 million for its stake in Dark Blue. In the medium term, of course, the development of the research pipeline will determine the share price performance.

Silver Viper is more than just a takeover story. With this stock, investors could benefit disproportionately from the silver boom. The fact that Anta did not make a takeover bid to all Puma shareholders may have caught some investors off guard. However, the stock does not appear to be expensive. Evotec is always good for a surprise. However, there is no compelling reason to buy the stock at this time.