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Oakley shareholders approve merger with Luxottica
08 Nov '07
1 min read
Oakley Inc announced that, at a special meeting held, its shareholders approved the merger agreement, and the merger provided for thereunder, entered into by and among Luxottica Group S.p.A., an Italian corporation, Norma Acquisition Corp., a Washington corporation and an indirect wholly owned subsidiary of Luxottica Group, and Oakley.
Following the consummation of the merger, Oakley will become an indirect wholly owned subsidiary of Luxottica Group. Based upon the preliminary tally of shares voted, approximately 83% of total shares of Oakley common stock voted in favor of the transaction.
Under the terms of the merger agreement, holders of Oakley common stock will receive $29.30 in cash for each outstanding share of Oakley common stock. Oakley expects the merger to close in mid-November.
Following the consummation of the merger, Oakley will become an indirect wholly owned subsidiary of Luxottica Group. Based upon the preliminary tally of shares voted, approximately 83% of total shares of Oakley common stock voted in favor of the transaction.
Under the terms of the merger agreement, holders of Oakley common stock will receive $29.30 in cash for each outstanding share of Oakley common stock. Oakley expects the merger to close in mid-November.
Oakley Inc
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