PARIS – Maus Freres S.A., the Swiss retail group that owns the Lacoste brand, has launched a hostile 5.2 billion Swedish knonor, or $810.2 million, bid for Gant, the Swedish sportswear firm that operates 310 stores.
You May Also Like
Maus snapped up 12.5 percent of Gant on the Stockholm Stock Exchange on Monday before unveiling on Tuesday a cash bid of 310 Swedish kroner, or $48.30, a share for the remainder of the company, a 31 percent premium on Gant’s closing price on Monday.
Gant responded to the offer by saying it would “make an assessment and revert with a recommendation to the shareholders of Gant before the acceptance period terminates.”
For more, see Wednesday’s issue of WWD.