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Michael Kors (KORS) Agrees to Acquire Jimmy Choo for $1.35B at 230 Pence Per Share

July 25, 2017 5:52 AM EDT

Michael Kors Holdings Limited (NYSE: KORS) today announced that it has reached an agreement to acquire Jimmy Choo PLC, a premier global luxury footwear and accessories brand. Under the terms of the transaction, Jimmy Choo shareholders will receive 230 pence per share, with an enterprise value of approximately USD $1.350 billion. The transaction has been approved by the Boards of Directors of both Michael Kors and Jimmy Choo.

John D. Idol, Chairman and Chief Executive Officer of Michael Kors, said, We are pleased to announce the acquisition of Jimmy Choo, an iconic brand... More