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LVMH Reaches Deal to Acquire Donna Karan
LVMH Moet Hennessey Louis Vuitton (LVMHY Quote) said Monday it had agreed to acquire fashion design house Donna Karan (DK Quote) for about $243 million in cash.
The purchase price, $10.75 per share, represents a premium of 26% over LVMH's original proposal of $8.50 a share and 120% over Donna Karan's $4.87 closing price on Dec. 15, the day before LVMH submitted its original merger proposal, LVMH said. ...
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