Tod's: surrounded after the announcement of a takeover bid
February 12, 2024 at 05:03 am EST
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Tod's soared by more than 17% in Milan, following the announcement by investment firm L Catterton, in agreement with Diego Della Valle (DDV), of a takeover bid for the shares of the manufacturer of luxury shoes, clothing and accessories.
This offer, at a price of 43 euros per share, would involve more than 11.9 million Tod's shares, representing 36% of the Italian fashion house's capital, with a view to delisting the stock from the Milan Stock Exchange.
DDV has agreed to contribute nearly 3.46 million shares to the takeover bid, representing more than 10.4% of Tod's capital. However, it would remain the majority shareholder with 54% of the capital, while LVMH, via its subsidiary Delfine, would retain its 10% stake.
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Tod's SpA is an Italy-based holding company. The Company, through its subsidiaries, is primarily engaged in creation, production and distribution of shoes, leather goods and accessories, apparel. The Company operates in the luxury sector under brands, such as TOD'S, ROGER VIVIER, HOGAN and FAY. The Company produces shoes and leather goods in its plants, with partial outsourcing to specialized workshops. The Company offers its products to customers through a network of specialized stores. The Company relies on approximately three channels: directly operated stores (DOS), franchised retail outlets, as well as a series of selected, independent multiband stores. The TOD'S brand offers shoes and luxury leather goods. ROGER VIVIER brand offers shoes, handbags, small leather goods, jewellery, as well as sunglasses. HOGAN brand offers shoe collections for women, men, children, as well as crafts various leather goods items. FAY brand offers a product range of casual wear for men and women.
TOD'S S.P.A. 
