Reported about 15 hours ago
Prada SpA is nearing a deal to acquire Versace from Capri Holdings Ltd. for approximately €1.5 billion, with finalization potentially occurring this month. Following promising initial due diligence and exclusive financial access to Versace, Prada's shares have risen amid their efforts to bolster competitiveness against luxury giants like LVMH. Despite the anticipated acquisition, Prada's market capitalization remains significantly lower than that of its larger rivals.
Source: YAHOO