PARIS – Maus Frères SA has won its battle for Gant. The Swiss retailer, which runs France’s Lacoste brand, on Thursday said it had reached a deal with Gant chairman Lennart Bjork that gives Maus control of 95.6 percent of the Swedish sportswear firm.
Maus sweetened its offer of 10 kronor, or $1.56, a share to 320 kronor, or $50.20, a share to buy an additional 59.7 percent of Gant shares. Bjork, who will remain Gant chairman, agreed to tender his shares to Maus after initially spurning Maus’ hostile raid of the firm that he and a group of investors had bought the global rights to in 1999.
Maus launched its unsolicited bid for Gant in December in a deal that valued Gant at 5.2 billion Swedish kronor, or $815.8 million at current exchange. By mid January, Maus had accumulated 35.3 percent of Gant, making it Gant’s single largest shareholder.
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