ESLOF - Luxottica Group launches tender offer for Giorgio Fedon & Figli

EssilorLuxottica (OTCPK:ESLOF) is seeking to take full control of luxury packaging provider Giorgio Fedon & Figli after taking a majority stake last month. The former firm announced a public tender offer on all the outstanding ordinary shares of the latter on Tuesday after the European close. The Italian-French luxury conglomerate had previously acquired a 90.9% stake in Giorgio Fedon & Figli in early April.  The offer is launched at a price equal to €17.03 per share, a 135% premium to the share price recorded prior to the initial stake taken in April and 114% over the weighted average of the official price of shares in the year prior to that point.  The takeover was noted as being motivated by EssilotLuxottica’s desire to “pursue its sustainability strategy, investing in the recyclability and circularity of the packaging materials produced by the company,” in April. Shares of EssilorLuxottica (OTCPK:ESLOY -0.1%) fell 1.41% in

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Luxottica Group launches tender offer for Giorgio Fedon & Figli