Oakley to now be wholly-owned subsidiary of Luxottica
31 Dec '07
2 min read
Scott Olivet, CEO of Oakley Inc, commented, “The fact that Luxottica and Oakley had similar beginnings, share the same values around the importance of brand and product, and have individuals around the world who have worked closely for years, gives us a very strong foundation for success.
While we have tremendous work in front of us, our early integration planning efforts give us confidence that the value of this combination can, in fact, be realized. We are excited to begin the next chapter in our history.”
In accordance with the terms of the June 2007 merger agreement, Oakley's outstanding shares of common stock have been converted into the right to receive US$ 29.30 per share, in cash. Citibank has been appointed as the paying agent for Luxottica Group.
marketing@alchempro.com
