Tod’s owners to launch $344 million bid to take it private

Tod’s owners to launch 4 million bid to take it private

Published by
Reuters UK

By Agnieszka Flak MILAN (Reuters) – The founding family and largest shareholder in Italy’s Tod’s said it would spend up to 338 million euros ($344 million) to buy out other investors in the luxury goods brand and take it private, aiming to spur its revival. The Della Valle brothers said in a statement their holding company would pay 40 euros for each Tod’s share, a 20.4% premium to the stock’s closing price on Tuesday, valuing the company at 1.32 billion euros. The offer is equal to the price the company set at the time of its initial public offering back in 2000. Like other Italian brands tha…

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