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BRIEF-Coach to acquire Kate Spade & Co for $18.50 per share in cash

May 8 Coach Inc:

* Coach Inc to acquire Kate Spade & Company for $18.50 per share in cash

* Coach Inc to acquire Kate Spade & Company for $18.50 per share in cash

* Coach Inc- acquisition expected to be accretive in fiscal 2018 and to reach double-digit accretion by fiscal 2019 on a non-GAAP basis

* Coach Inc - acquisition expected to be accretive in fiscal 2018 and to reach double-digit accretion by fiscal 2019 on a non-GAAP basis

* Coach Inc - transaction has been unanimously approved by boards of directors of Kate Spade & Company and Coach Inc

* Coach Inc - deal for total transaction value of $2.4 billion.

* Coach Inc - deal to reach double-digit accretion by fiscal 2019 on a non-GAAP basis

* Coach Inc - transaction has been unanimously approved by boards of directors of Kate Spade & Company and Coach Inc

* Coach Inc - transaction is not subject to a financing condition

* Coach Inc - Coach has secured committed bridge financing from BofA Merrill Lynch

* Coach-$2.4 billion purchase price expected to be funded by a combination of senior notes, bank term loans and approximately $1.2 billion of excess Coach cash

* Coach Inc - believe co can realize a run rate of approximately $50 million in synergies within three years of deal closing

* Coach - cost synergies will be realized through scale and inventory management, optimization of Kate Spade's supply chain network

* Coach Inc - plan to reduce sales in Kate Spade's wholesale disposition and online flash sales channels

* Coach Inc - Coach's financial advisor is Evercore Group L.L.C.; Kate Spade & Company's financial advisor is Perella Weinberg Partners LP Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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