Coach takes the first step for the acquisition of Kate Spade. Last Friday, the US company launched its $ 18.5 IPO for each share on the market. The offer, except for extensions, will expire on June 23. By this date Coach – and its subsidiaries – will have to own over half of the available actions or the majority of Kate Spade. The total value of the transaction will be $ 2.4 billion (about € 2.1 billion). Coach currently bill 4.5 billion dollars (about 4 billion euros). On Thursday Kate Spade had closed at $ 18.42 per share and, in the last 12 months, the stock price dropped 16.4%. The offer does not exclude the involvement of another investor that could raise and increase the bid price. Such a move would keep Michael Kors, another potential buyer of Kate Spade, still in the games. The acquisition should end in the third quarter of 2017 and will influence the Coach budget from 2018.
From words to facts: Coach launches IPO on Kate Spade, expiring June 23rd
