@Coach has just bagged itself a deal. The luxury handbag maker has announced plans to buy competitor @KateSpadeNY for $2.4 billion It will pay $18.50 in cash for each share — an increase of nearly 30% from where the stock was trading prior to rumors of a sale. Coach said it expects the transaction to close by the end of the third quarter and plans to preserve Kate Spade’s “brand independence” and retain key staff. #coach #katespade #bags #handbags #luxury #deal #money
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