window.document.getElementById(‘post-9636’).parentNode.className += ‘ adhesive_post’;Luxottica Group and Oakley, Inc. completed the merger between the two companies for a total purchase price of approximately $2.1 billion. Oakley will now be a wholly- owned subsidiary of Luxottica Group and, as a result of the completion of the merger, Oakley’s shares will cease to trade on the New York Stock Exchange. Cobined, the two companies expect consolidated pro forma net revenues for fiscal year 2007 of €5.7 billion and consolidated pro forma EBITDA for the same period of approximately €1.2 billion. Luxottica Group expects that the transaction will result in approximately €100 million per year in operating synergies at the operating income level within three years, driven by revenue growth and efficiencies.
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