Essilor Agrees to Buy US Sunglass Maker Costa for $270 Million
08 Novembre 2013 - 9:31AM
Dow Jones News
By Inti Landauro
PARIS--French lens maker Essilor International SA (EI.FR) Friday
said it would buy U.S. sunglasses maker Costa Inc. (ATX) in a $270
million deal.
Costa shareholders will receive $21.50 a share, a 19% premium
over the volume-weighted average share price over the past six
months.
Costa "is expected to report approximately $100 million in
revenue in 2013," Essilor said.
Shareholders owning about 34% of the U.S. company have agreed to
vote in favor of the deal, the French company said.
The transaction is expected to close in early 2014.
-Write to Inti Landauro at inti.landauro@wsj.com
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