LVMH Moet Hennessy Louis Vuitton shares leap to the top of the market in Paris

The fashion company said it would buy out the minority interest held by Christian Dior

Author:: TheStreet Staff
Publish date:: Apr 25, 2017 4:53 AM EDT

LVMH Moet Hennessy Louis Vuitton SE (LVMUY) shares leaped to the top of the market in Paris after it said it would buy out the minority interest held by Christian Dior SA (CHDRY) in a €12.1 billion ($13.16 billion) deal it said would lift its earnings profile.

The Arnault Family Group, which controls LVMH, said it would purchase all the shares of Christian Dior it doesn't already own for €172 each in cash and 0.192 in Hermès International shares. The offer would value Dior shares at €260 each, the company said, a 14.7% premium from its Monday closing price. LVMH's Fashion & Leather Goods division will also purchase Christian Dior Couture for €6.5 billion.

This article was written by a staff member of TheStreet.