The new life of Essilor Luxottica in Paris begins with a positive sign. After the closing of the top-up on the Italian company with more than 90% subscriptions, the day’s share is up by more than four percentage points. “Now I call it Essilux, to shorten it” said Luxottica’s founder Leonardo Del Vecchio before the last assembly in Paris.
The shareholders of Essilor and Delfin, which conferred the Luxottica shares before the OPS which gave the first results yesterday, approved the merger between the two eyewear groups. The crucial votes recorded over 90% of voters’ votes, while those on executive compensation and stock options showed lower majorities.
The giant born of the merger of the two companies announced yesterday the preliminary results of the exchange offer launched on Luxottica. The company has come to hold 93% of the company’s capital and, as per the prospectus, does not intend to restore the float. Essilor Luxottica will have the obligation to purchase on the residual 32 million luxottica shares not made to the offer with methods and times that will be announced by December 4th.