Ray-ban owner essilorluxottica views grandvision acquisition

by MR Magazine Staff

Eyewear giant EssilorLuxottica SA is considering a takeover of smaller Dutch retailer GrandVision NV, which would vastly expand the French-Italian company’s global store network, according to people familiar with the situation. Deliberations at EssilorLuxottica are at an early stage, and may not lead to a transaction, said the people, who asked not to be identified because the matter is private. Shares of GrandVision rose as much as 11%, and traded up 8.7% late Wednesday, giving the company a market value of 5.9 billion euros ($6.6 billion). The French-Italian company’s stock fell as much as 1.5%. Read more at Fortune.