CAPTION: The Chinese shareholder Fosun plans to take over the fashion chain Tom Tailor. (picture alliance/Christian Charisius/dpa/archive)
The struggling fashion chain Tom Tailor is to become completely Chinese. Major shareholder Fosun from China wants to take over the Hamburg-based company for a valuation of approximately 96 million euros. Tom Tailor shareholders will be offered a minimum of 2.26 euros per share, the company announced early Tuesday morning. The offer is thus almost 5 percent above the Xetra closing price on Monday.
Shortly before the announcement of the takeover bid, Tom Tailor had already announced that Fosun had increased its stake from just under 29 percent to a good 35 percent by issuing new shares. The Chinese firm had to put almost 9 million euros on the table for this. If all shareholders were to offer their shares as part of the takeover bid, Fosun would have to then pay just over 60 million euros.
Tom Tailor has recently had to deal with a number of problems and was deeply in the red, mainly because of the Bonita brand. Fosun has been a shareholder in Tom Tailor since 2014.
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