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The proposed takeover of Tod’s<\/strong> by the Della Valle family<\/strong> 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<\/strong>, after reaching the lowest of the session at 31.2 euros.<\/p>\n <\/p>\n <\/p>\n 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.<\/strong> The financial vehicle DeVa Finance<\/strong>, 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.<\/strong> “We note that part of the market considered that the offer was below its expectations,”<\/em> said a note from Deva Finance. The family’s takeover bid valued Tod’s at 1.32 billion euros.<\/strong><\/p>\n <\/p>\n Last August, the family of chairman and CEO Diego Della Valle<\/strong>, had indicated that it was offering 40 euros per share to buy 25.55% of the company’s capital and thus increase its stake to 90%. The family then wanted to delist the company, with LVMH<\/strong> retaining its 10% stake in the company.<\/p>\n <\/p>\n The French luxury group had increased its presence in Tod’s from 3.2% to 10% by 2021. Shortly after, Diego Della Valle had said he would be willing to sell additional shares to LVMH<\/strong>, of which he has been a director for 20 years.<\/p>\n <\/p>\n “Our decision to launch the offer was determined by the fact that we intended, with a very precise industrial strategy, to increase the value of the group in the medium term (…) The price we proposed was calculated taking into account future plans and precise strategies; therefore, from the beginning, we never mentioned, nor gave any openings for a modification of it.”<\/em> comments DeVa Finance.<\/p>\n <\/p>\n The decision to aim for delisting, 22 years after its inception, aims to have greater freedom of action in a strategy that will now focus on<\/strong> “strengthening the positioning of the Tod’s, Hogan, Roger Vivier and Fay brands, in the high-end of the quality and luxury market, with a high level of desirability,”<\/em> explains the Della Valle family.<\/p>\n <\/p>\n Read also >\u00a0Tod\u2019s sales increase<\/a><\/p>\n <\/p>\n Featured photo : \u00a9 Tod’s\u00a0[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n The proposed takeover of Tod’s<\/strong> by the Della Valle family<\/strong> 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<\/strong>, after reaching the lowest of the session at 31.2 euros.<\/p>\n <\/p>\n <\/p>\n 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.<\/strong> The financial vehicle DeVa Finance<\/strong>, 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.<\/strong> “We note that part of the market considered that the offer was below its expectations,”<\/em> said a note from Deva Finance. The family’s takeover bid valued Tod’s at 1.32 billion euros.<\/strong><\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\nA postponed project<\/h2>\n
The Della Valle family’s takeover bid for Tod’s has failed. The share price of the latter fell on the stock exchange.
\n<\/h4>\nA postponed project<\/h2>\n