Deals
Samsonite to Buy Tumi for About $1.8 Billion in Biggest Deal
- Deal values competitor Tumi at about three times revenue
- Luggage-maker diversifying in effort to more than double sales
Samsonite CEO: Tumi Is a 'Perfect Fit' for Our Business
Samsonite International SA, the world’s largest branded-luggage maker, agreed to buy luxury baggage maker Tumi Holdings Inc. for about $1.8 billion in its biggest acquisition.
Tumi investors will receive $26.75 per share in cash, Samsonite said in a Hong Kong stock exchange statement on Friday. That’s about 33 percent more than the New Jersey-based company’s closing price on Wednesday, before a possible takeover was reported.