Richemont clinches takeover of Yoox Net-A-Porter [Reuters]
YOOX NET A PORTER GROUP SPA AMERICAN DEPOSITARY REALTY (YXOXY)
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Source: Reuters
Richemont clinches takeover of Yoox Net-A-Porter | Reuters Reuters Staff 1 Min Read ZURICH, May 25 (Reuters) - Swiss luxury goods group Richemont has clinched its takeover offer for Yoox Net-a-Porter (YNAP) by garnering more than 95 percent of the Italian group’s shares, the companies said on Friday. Cartier owner Richemont, which like many rivals in the watch industry and high fashion world has been slow to move into selling online, had offered 38 euros per share for YNAP. The stock closed on Thursday at just below that level. The offer valued YNAP at 5.3 billion euros ($6.20 billion). $1 = 0.8542 eurosReporting by Michael Shields All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reuters. All Rights Reserved.
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