UPDATE 3-EssilorLuxottica sets sights on retail dominance with $8 bln GrandVision deal [Reuters]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
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Source: Reuters
EssilorLuxottica eyes bigger global retail network with $8 billion deal for GrandVision - Reuters 3 Min Read PARIS (Reuters) - EssilorLuxottica ( ESLX.PA ), the world’s largest eyewear maker, announced on Wednesday it is buying Dutch optical retailer GrandVision ( GVNV.AS ) in a cash transaction worth up to 7.2 billion euros ($8 billion) to expand its global retail network. The takeover would mark a new milestone for EssilorLuxottica, which was formed last year through the merger of French lenses specialist Essilor, known for its Varilux lenses, and Italian spectacles maker Luxottica, which owns prestigious brands such as Ray-Ban, but has been beset by disagreements over who runs the merged group. The group said it would acquire a 76.72% stake in GrandVision from Dutch investment company HAL NV at a price of 28 euros per share. The price could be increased to 28.42 euros per share if the deal is not closed within a year, and the terms of the deal value the whole of GrandVision at
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