MILAN — Rumors circulating around a possible Kering acquisition of Moncler helped boost luxury shares on the Milan Stock Exchange on Thursday — and analysts generally gave a thumbs up to a potential deal.
Moncler shares closed up 6.52 percent at 41.36 euros, after soaring 10.64 percent to 42.96 euros by noon that day. Salvatore Ferragamo shares closed up 7.38 percent to 18.92 euros and Tod’s gained 5.29 percent, closing at 41.78 euros.
A Milan-based market source told WWD that Kering “is seriously thinking of a takeover of Moncler. It has the liquidity and it is already discussing the deal with a number of banks.”
The source estimated the deal could be in the range of 13.5 billion euros to 14 billion euros, a 30-to-40-percent premium on a capitalization of 10 billion euros. “It could take a matter of days, perhaps two weeks,” he forecast, viewing the deal as a response to the recent LVMH Moët Hennessy Louis Vuitton proposed acquisition of Tiffany.
Moncler’s chairman, chief executive officer and shareholder Remo Ruffini toned down the speculation, stating that he “would like to clarify that from time to time he maintains contacts and interacts with investors and other sector participants, including the Kering group, in order to explore
Moncler shares closed up 6.52 percent at 41.36 euros, after soaring 10.64 percent to 42.96 euros by noon that day. Salvatore Ferragamo shares closed up 7.38 percent to 18.92 euros and Tod’s gained 5.29 percent, closing at 41.78 euros.
A Milan-based market source told WWD that Kering “is seriously thinking of a takeover of Moncler. It has the liquidity and it is already discussing the deal with a number of banks.”
The source estimated the deal could be in the range of 13.5 billion euros to 14 billion euros, a 30-to-40-percent premium on a capitalization of 10 billion euros. “It could take a matter of days, perhaps two weeks,” he forecast, viewing the deal as a response to the recent LVMH Moët Hennessy Louis Vuitton proposed acquisition of Tiffany.
Moncler’s chairman, chief executive officer and shareholder Remo Ruffini toned down the speculation, stating that he “would like to clarify that from time to time he maintains contacts and interacts with investors and other sector participants, including the Kering group, in order to explore