Luxottica Bid for Sunglass Hut Clears Antitrust Review
The Italian eyeglasses company disclosed plans in February to buy the sunglasses retailer for $462 million. The companies had to wait until the waiting period mandated by the Hart-Scott-Rodino Antitrust Improvements Act expired, which it did on Monday.
Luxottica is offering $11.50 a share in cash for each share of Sunglass Hut, which is based in Coral Gables, Fla. Luxottica's tender offer for Sunglass Hut's shares is set to expire March 30.
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