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GrandVision Surges After Ray-Ban Maker Begins Takeover Talks

  • Controlling shareholder HAL hasn’t reached agreement to sell
  • Talks value Dutch eyewear retailer at about 28 euros per share
Photographer: Taylor Weidman/Bloomberg
Updated on

GrandVision NV surged for a second day after Ray-Ban sunglasses owner EssilorLuxottica SA began takeover talks in a deal that would value the smaller Dutch eyewear retailer at about 7.1 billion euros ($8 billion).

EssilorLuxottica is holding talks with GrandVision’s controlling shareholder, HAL, to buy the firm’s approximately 77% stake, HAL said in a statement on Wednesday in response to a Bloomberg report, which was confirmed later by the French-Italian suitor. Shares of GrandVision jumped as much as 10% Thursday, reaching 25.30 euros, their highest level since September 2016.