Michael Kors is to buy Jimmy Choo for £900 Million

Michael Kors is to buy British luxury shoe and accessory brand Jimmy Choo for £900 million, reports The Guardian. At auction, bids came from a host of competitive international names with the luxury goods brand coming out on top. The US-based business has agreed on a sum of 230p per share, with board directors – who currently own 1.3 per cent – agreeing to the “fair and reasonable” terms of acquisition. Additionally, unless a third party presents an additional offer, this agreement is “final and will not be increased.” The founders of Jimmy Choo – Tamara Mellon and Jimmy Choo – are no longer involved with the shoe brand, whose strappy… Read More

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