Prada's plans for Gucci investment are baffling some investors, analysts

Article Abstract:

Prada Chairman and Chief Executive Officer Patrizio Bertelli's initial announcement that he has been acquiring shares of rival Gucci left industry watchers bewildered. In a filing with the US Securities and Exchange Commission, Bertelli laid down options that include buying more shares, working towards a merger or an asset sale. In media interviews, Bertelli confounded the mystery by saying he might be making a financial investment or he could attempt to conduct a takeover. Gucci Group NV CEO Domenico De Sole said he is as puzzled by Prada's plans.

Comment:

Chairman and CEO Patrizio Bertelli's statements that he has been acquiring shares of Gucci left industry watchers bewildered

United States, Women's Specialty Stores, Clothing Accessories Stores, Prada Holding N.V., Article

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LVMH Rejects Terms From Gucci for Takeover

Article Abstract:

LVMH Moet Hennessy Louis Vuitton SA has rejected the board of Gucci NV's offer to recommend an unconditional offer of $88 a share to its shareholders. LVMH considers the $8.8 billion bid unwinnable because it is not likely Pinault Printemps Redoute (PPR) will accept the offer. Gucci issued a 42% stake to PPR in March, 1999, contributing to the lowering of LVMH's stake in Gucci from 34.4% to 20%. A court hearing in Amsterdam could open an investigation into Gucci's recent actions.

Italy, Diversified Companies, Asset sales & divestitures, Apparel & Related Products, Apparel Manufacturing, Conglomerate corporations, Mergers, acquisitions and divestments, Abstract, Clothing industry, LVMH Moet Hennessy Louis Vuitton S.A., Gucci N.V.

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