Coach completes acquisition of Kate Spade & Company

“The tender offer by a subsidiary of Coach, Inc for all the outstanding shares of Kate Spade & Company expired, as scheduled, at 5 p.m. EDT on July 10, 2017. Following its acceptance of the shares tendered, Coach, Inc. caused the merger of its subsidiary with and into Kate Spade & Company. As a result, Kate Spade & Company has become a wholly owned subsidiary of Coach, Inc,” Coach said in a press relase.

In connection with the merger, all eligible Kate Spade & Company shares not tendered have been cancelled and converted into the right to receive $18.50 per share in cash, the same price per share offered in the tender offer. In addition, all Kate Spade & Company shares have now ceased to be traded on the New York Stock Exchange, the release added.

The combination of Coach, Inc and Kate Spade & Company creates a leading luxury lifestyle company with a more diverse multi-brand portfolio supported by significant expertise in handbag design, merchandising, supply chain and retail operations as well as solid financial acumen. Coach’s history and heritage, multi-channel, international distribution model, and seasoned leadership team uniquely position it to drive long-term sustainable growth for Kate Spade. (RKS)

Fibre2Fashion News Desk – India