EssilorLuxottica to acquire 76.72 percent stake in GrandVision

EssilorLuxottica has announced that the company is acquiring HAL's 76.72 percent interest in GrandVision at a cash purchase price equal to 28 euros (31 dollars) per share – to be increased by 1.5 percent to 28.42 euros (31.7 dollars) if closing of the acquisition does not occur within 12 months from the announcement date. After the closing of the transaction with HAL, the company added, EssilorLuxottica will launch a mandatory public offer for all outstanding GrandVision shares.