[ET Net News Agency, 9 May 2017] Coach (06388) said it has signed a definitive
agreement to acquire Kate Spade & Company.
Under the terms of the transaction Kate Spade shareholders will receive US$18.5 per
share in cash for a total transaction value of US$2.4 billion. The transaction represents
a 27.5% percent premium to the unaffected closing price of Kate Spade's shares as of 27
December 2016, the last trading day prior to media speculation of a transaction. The
transaction has been unanimously approved by the Boards of Directors of Kate Spade &
Company and Coach, Inc.
The combination of Coach, Inc. and Kate Spade & Company will create a leading luxury
lifestyle company with a more diverse multi-brand portfolio supported by significant
expertise in handbag design, merchandising, supply chain and retail operations as well as
solid financial acumen.
Kate Spade & Company (operates principally under two global, multichannel lifestyle
brands: kate spade new york and Jack Spade New York. (HL)
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