The Della Valle family’s takeover bid for Tod’s has failed. The share price of the latter fell on the stock exchange.
The proposed takeover of Tod’s by the Della Valle family has failed, causing the share price to fall. At the close of the stock exchange in Piazza Affari, the decline was 19.44% to 31.9 euros per share, after reaching the lowest of the session at 31.2 euros.
A postponed project
According to the provisional results, the takeover bid for 25.5% of Tod’s has received acceptances for less than half of the shares offered. The financial vehicle DeVa Finance, owned by the Della Valle family, has indicated that it has obtained 86.95% of Tod’s capital at the end of its bid, which is less than the 90% targeted. “We note that part of the market considered that the offer was below its expectations,” said a note from Deva Finance. The family’s takeover bid valued Tod’s at 1.32 billion euros.
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Featured photo : © Tod’s
