Italian eyewear house Safilo Group has confirmed that Inspecs Group rejected its acquisition proposals, including an initial approach for the Eschenbach and BoDe businesses and two subsequent non-binding offers for the entire company.
Inspecs produces high-quality eyewear in-house for supply to a global network of retailers and brands.
In response to a statement from Inspecs Group, Safilo Group has disclosed its rejected acquisition attempts and confirmed it is still evaluating its options, which may include a revised offer for the entire issued share capital of Inspecs.
Safilo said, “This announcement is not an intention to make an offer and accordingly there can be no certainty that an offer will be made, nor as to the terms on which any such offer might be made, save that the consideration for any such offer would be in the form of cash.”
Under UK takeover rules, Safilo is required to declare its intention to acquire Inspecs or formally withdraw by 5pm on 18 December.
Any extension to this 28-day window requires approval from the Panel on Takeovers and Mergers.
Safilo is a global powerhouse, whose portfolio encompasses several home brands (Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street); the perpetual licence Eyewear by David Beckham; and multiple licensed brands, including Boss, Carolina Herrera, Kate Spade New York, Marc Jacobs, Missoni, Tommy Hilfiger and many others. ✈
