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But Franca, according to reports, favours privately owned Texas Pacific because it has promised that her two chil-dren will keep their jobs with the company if it is taken over.
5 B0 e) m5 i8 T( _As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.7 U( O8 U# h. ~+ Z6 @( | D+ N3 N b: Q
Paris-based LVMH's Mr. Arnault earlier this year fought a bitter takeover battle for Gucci with Mr. De Sole. In the midst of that battle, Prada's Mr. Bertelli agreed to sell his Gucci stake, at a nice profit,christian louboutin shoes, to Mr. Arnault. But Mr. De Sole won the day with a bold white knight deal with Pinault-Printemps-Redoute.1 G* L; g0 Z: f
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.: h6 M; W* K7 Y- B
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
$ m$ I- `; G# o `/ x6 n' XItalian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.! U, t* B9 l- U& s6 O
Reflecting in part the high level of merger and acquisition speculation in the industry, as well as a fundamental re-covery in Asia, the Morgan Stanley luxury goods index was up 65% year-to-date earlier this week, crushing broader stock market indices.3 C6 \% V9 B& k( z9 L) ?' _
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. S; L& ~! f) R1 V! l Giancarlo Di Risio, president of LVMH Moet Henness( R: n3 U% @0 L
& a& m4 f, r" P8 U5 H is it appropriate( e( Z# p& v2 ~8 }6 l; P) S, I! q+ v
9 v/ J7 `; Y4 C) u. I- I2 l, X% m8 } Mr. Toledano said he planned to expand further into retail lines like shoes and |
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