DesignTracker| LVMH is announcing an all-share deal to take control of 51 percent of Italy’s Bulgari luxury company. The exchange will make Bulgari one of LVMH’s largest shareholders with the family also acquiring seats on the LVMH board of directors.
LVMH will also announce a tender offer to acquire the remaining shares of Bulgari. On Friday Bulgari was valued at about $3.22 billion and the LVMH deal will add a premium to the valuation.
Bulgari draws the majority of its sales from Europe and Asia, with sales in China’s luxury market growing rapidly. via NYTimes Dealbook