Tod’s owners in $344 million bid to take it private, split group

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Reuters UK

By Agnieszka Flak and Valentina Za MILAN (Reuters) – The founding family of Italian luxury shoemaker Tod’s plans to buy out other investors for up to 338 million euros ($344 million) and take the group private in an effort to revive its fortunes by managing its diverse brands separately. The Della Valle brothers said in a statement their holding company would offer to buy Tod’s shares at 40 euros each, a 20.4% premium to Tuesday’s closing price, valuing the company at 1.32 billion euros. French luxury giant LVMH will retain its 10% stake, after raising it last year in a move that Tod’s said re…

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