Michael Kors/Jimmy Choo deals get EU approval
Michael Kors’ acquisition of Jimmy Choo has been given unconditional clearance by the European Commission following a Phase 1 review.
FTSE 250
19,601.98
17:09 25/04/24
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FTSE 350
4,434.34
17:09 25/04/24
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FTSE All-Share
4,387.94
16:49 25/04/24
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Jimmy Choo
230.00p
16:30 30/10/17
0.00%
0.00p
Michael Kors Holdings Ltd Com Npv
n/a
11:10 25/04/24
0.00%
$0.00
Personal Goods
15,870.16
17:09 25/04/24
-0.45%
-71.80
Jimmy Choo agreed back in July to be bought by Michael Kors for £896m.
Under the terms of the deal, Jimmy Choo shareholders will receive 230p per share, with an enterprise value of around $1.35bn.
The transaction, which got Russian antitrust clearance in September, is expected to give Jimmy Choo the opportunity to grow sales to $1bn and allow for a more balanced portfolio with greater diversification.
At 1505 BST, the shares were flat at 229.60p.