Coach: acquisition of Kate Spade now complete.
(CercleFinance.com) - Coach has completed the acquisition of Kate Spade & Company for a total value of 2.
4 billion dollars, the New York-based accessories maker said late on Tuesday.
After the tender offer for all of Kate Spade's shares expired yesterday, Coach said its smaller rival - focused on so-called "millenials" - has become a fully-owned subsidiary.
Kate Spade shares that are not tendered have been cancelled and converted into the right to receive 18.50 dollars per share in cash, the same price in the offer.
Kate Spade shares will cease to be traded on the New York Stock Exchange as from today.
The 2.4 billion dollar purchase price has been funded by a combination of senior notes, bank term loans and Coach's excess cash.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
4 billion dollars, the New York-based accessories maker said late on Tuesday.
After the tender offer for all of Kate Spade's shares expired yesterday, Coach said its smaller rival - focused on so-called "millenials" - has become a fully-owned subsidiary.
Kate Spade shares that are not tendered have been cancelled and converted into the right to receive 18.50 dollars per share in cash, the same price in the offer.
Kate Spade shares will cease to be traded on the New York Stock Exchange as from today.
The 2.4 billion dollar purchase price has been funded by a combination of senior notes, bank term loans and Coach's excess cash.
Copyright (c) 2017 CercleFinance.com. All rights reserved.