Essilor Pays $270M For Sports Lens Maker Costa

Law360, New York (November 8, 2013, 1:25 PM EST) -- Eyeglass lens giant Essilor International SA will pick up Costa Inc. in a $270 million deal as part of a plan to broaden the focus and customer base of the niche extreme sports sunglass lens maker, the companies announced Friday.

Essilor, the world’s largest eyeglass lens manufacturer, plans to bankroll the all-cash deal for Costa’s outstanding shares with company reserves, according to a statement. Under the terms of the deal, Costa shareholders would receive $21.50 per share, which represents a 19 percent premium on the volume-weighted...
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