Essilor submits bid for Safilo................

[Chris Ryser]

EU mergers and takeovers (Nov 20) 20 Nov 2009 14:34 GMT

.. -- Netherlands Antilles investment firm Hal Investments to acquire control of Italian eyewear maker Safilo Group S.p.A (notified Nov. 9/deadline Dec. 14) DEC 15 -- Britain's Royal Bank of ...


Report: French company may buy FGX 21 Nov 2009 04:32 GMT

... Berggruen suggested last summer that FGX should consider merging with Italian luxury glasses designer Safilo Group SpA. Essilor submitted a conditional bid of $18 a share two weeks ago, ...

[Fezz]

Just when you think that you have heard and seen it all................

[For-Life]

EU mergers and takeovers (Nov 20) 20 Nov 2009 14:34 GMT

.. -- Netherlands Antilles investment firm Hal Investments to acquire control of Italian eyewear maker Safilo Group S.p.A (notified Nov. 9/deadline Dec. 14) DEC 15 -- Britain's Royal Bank of ...


Report: French company may buy FGX 21 Nov 2009 04:32 GMT

... Berggruen suggested last summer that FGX should consider merging with Italian luxury glasses designer Safilo Group SpA. Essilor submitted a conditional bid of $18 a share two weeks ago, ...

Chris, find the full story. Your days of searching for "Essilor and Safilo" in Google have fooled you. You wandered onto a site that you need a password for, so it only shows you a headline.

If you got a hold of the full story, you would see that Essilor has put a bid in for FGX, NOT SAFILO!!!

Let's repeat. Essilor has put a bid in for FGX, NOT SAFILO.

Here is the full story:

SMITHFIELD – FGX International Inc. is reportedly near a deal to be bought out by one of France’s biggest companies, a British newspaper reported this week.

In an item on Wednesday, The Daily Telegraph reported that Essilor International S.A. “is closing in on a takeover deal” to acquire the Smithfield-based maker of non-prescription reading glasses and sunglasses.

The report comes less than two weeks after Providence Business News reported that FGX has put in place a new contract with its top executives that increased the payouts they will receive if the company is taken over. Those agreements took effect on Nov. 6.

The Telegraph said Essilor is now in “exclusive talks” with Nicolas Berggruen, the eccentric billionaire who is FGX’s largest shareholder, after first approaching FGX about an acquisition five weeks ago. Berggruen suggested last summer that FGX should consider merging with Italian luxury glasses designer Safilo Group SpA.

Essilor submitted a conditional bid of $18 a share two weeks ago, but FGX is holding out for $23 a share, according to The Telegraph. FGX shares jumped 10 percent after the report was published Wednesday to close at $16.70, then fell back to $16.25 on Thursday. The shares were up 3.5 percent to $16.81 at 11:14 a.m. Friday.

Essilor manufacturers lenses for sunglasses and ophthalmic equipment. Its profit totaled 382 million euros ($565.89 million) on 3.07 billion euros ($4.55 billion) in sales last year.

FGX is incorporated in Delaware and has its headquarters in Smithfield. It is a subsidiary of FGX International Holdings Ltd., which is incorporated in the British Virgin Islands.

Additional information is available at fgxi.com.

http://www.pbn.com/detail/46235.html
:finger::finger::finger::finger::finger:

[Chris Ryser]

For-Life..............Is it not what I posted .........

Berggruen suggested last summer that FGX should consider merging with Italian luxury glasses designer Safilo Group SpA. Essilor submitted a conditional bid of $18 a share two weeks ago, ...

Don't always get exited so fast and use up all the ink in defence of the Emporium. :D

[Uilleann]

Oh wait wait.....I KNOW I got my tin foil hat around here somewhere! Lemme just find it again.....

LOL

[For-Life]

For-Life..............Is it not what I posted .........

Berggruen suggested last summer that FGX should consider merging with Italian luxury glasses designer Safilo Group SpA. Essilor submitted a conditional bid of $18 a share two weeks ago, ...

Don't always get exited so fast and use up all the ink in defence of the Emporium. :D

Last year the group talked about the bid. A year later, it still has not. Therefore, it probably decided against it. In addition, if Essilor did buy Safilo out, Bergguren would not be the decision maker, and therefore, would not be able to merge with Safilo.

It is not about me coming to the defence of anyone. It is about me seeking the truth. When something is posted that is wrong, I think OBers need to know the truth.

[jpways]

For-Life..............Is it not what I posted .........

If that's not what you intended your post to mean then why did you call this thread "Essilor submits bid for Safilo................"?

[gemstone]

Denial is bliss. However temporary.

[jpways]

What I don't understand is what the big deal would be if Essilor took over Safilo, just look at the great job Essilor did with Logo, the greatest danger I could see from such a merger is the decreasing quality of the brand lines until they all start to look the same and, with some exceptions especially in the newer lines, are just of average look and/or quality.... Oh wait that was already happening that's why our office dropped Safilo in the first place. Essilor's focus seems to be on acquiring labs and lens/coating production, granted if they wanted to become the next Luxottica this would be a step in that direction, but I doubt their current business plan includes frame companies.

[AWTECH]

What I don't understand is what the big deal would be if Essilor took over Safilo, just look at the great job Essilor did with Logo, the greatest danger I could see from such a merger is the decreasing quality of the brand lines until they all start to look the same and, with some exceptions especially in the newer lines, are just of average look and/or quality.... Oh wait that was already happening that's why our office dropped Safilo in the first place. Essilor's focus seems to be on acquiring labs and lens/coating production, granted if they wanted to become the next Luxottica this would be a step in that direction, but I doubt their current business plan includes frame companies.

I don't know how you think a bid for FGX does not include frame companies as that is exactly what FGX does. They have mass market distribution. And I doubt that FGX actually makes any lenses. FGX also owns some brands that could fit in mass merchant optical distribution. To me I think this is a great strategy for Essilor. They can expand their business by selling frames and lenses to mass Big Box Retailers without interfering with their optical and lab distribution channel of distribution.

Essilor will continue to grow but they will expand their market horizons as they currently have such high penetration in there historical distrbution channel that it is difficult for them to not hit anti trust problems in there traditional areas of business.

[Chris Ryser]

If that's not what you intended your post to mean then why did you call this thread "Essilor submits bid for Safilo................"?

See above post by AWTECH.............very clear explanation

[eyemanflying]

If that's not what you intended your post to mean then why did you call this thread "Essilor submits bid for Safilo................"?

LOL, good ole Chris has a sharp brain and an even sharper eye!

[eyemanflying]

I doubt their current business plan includes frame companies.

Never say never. They are big enough thank you. And don't kid yourself for a minute, that they aren't trying to monopolize the optical world.

They disguise and sugar coat everything. By the way, how is their joint venture with VSP promoting internet optical sales progressing?

[FVCCHRIS]

Absolute Power Dominates....Absolutely. Do you hear that giant sucking sound...??

[For-Life]

I have been hearing the same rumours since I started on this board, five years ago.

Anyways, we should close this thread, because all it is doing is spreading a mistruth

[k12311997]

I have been hearing the same rumours since I started on this board, five years ago.

Anyways, we should close this thread, because all it is doing is spreading a mistruth

Psst..... I heard that essilor and luxottica are actually aliens trying to take over the world to turn humans into food.;)

[jpways]

Psst..... I heard that essilor and luxottica are actually aliens trying to take over the world to turn humans into food.;)

Well that's why there has to be a Walmart in every city :D

This week only soylent green 10 lbs for just 10.99

[FVCCHRIS]

I'll wait for it to go on sale!:shiner: