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42.66 0.10 (+0.20 %)
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KATE Kate Spade
18.42 1.46 (+8.60 %)
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Luxury retailer Coach announced on Monday it agreed to buy Kate Spade for $18.50 per share, for a total transaction value of $2.4 billion.
The combined company will create a “leading luxury lifestyle company” supported by “significant expertise in handbag design, merchandising, supply chain and retail operations,” according to a statement.
The per-share acquisition price is 27.5% higher than Kate Spade’s share price as of December 27, the last…