Luxottica Extends the Offer Period for OPSM by Two Weeks

Luxottica announced a two-week extension - until August 1 - for the validity of its offer, worth 550 million Australian dollars (357 million US dollars), to acquire Australian retail chain OPSM.

The group, which offered 3.8 Australian dollars per share plus an extraordinary dividend of 10 cents each, announced that it decided to extend the offer because the Australian Foreign Investment Review Board (FIRB) announced that it was unable to express its opinion on the acquisition before July 18, the original closing date of the offer.

To date, the Agordo-based company has received 24.2% of the OPSM shares. The friendly takeover by Luxottica is dependent on reaching the minimum threshold of 90%. 'The extension will also give shareholders more time to accept the offer,' commented a company spokesperson.

(Source: Reuters)