Cheap Sunglasses? Not For Luxottica
How do you say "buyout" in Italian? Oakley (OO), the maker of the fancy sunglasses (sorry, "sport performance optics") favored by pro athletes and weekend warriors, has a new societa madre: Italian optical giant Luxottica (LUX). The two companies announced a deal on June 20 under which Foothill Ranch (Calif.)-based Oakley would be acquired by the Milan eyewear giant for $29.30 in cash per share, for a total purchase price of around $2.1 billion.
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