Prada Is Reportedly Close to Buying Versace for $1.6 Billion

Prada SpA is reportedly close to acquiring the iconic Italian fashion house from Capri Holdings Ltd., with a deal valued at approximately €1.5 billion ($1.6 billion), Bloomberg reported on Sunday. The transaction could be finalized as early as this month. But, as with any deal, the timing and valuation could still change, and there’s always the chance the talks could fall through. Read more at Robb Report.