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Coach to buy rival Kate Spade for $2.4 billion

May 8 Handbag maker Coach Inc said it would buy smaller rival Kate Spade & Co for $2.4 billion.

The $18.50 per share cash offer represents a premium of 9 percent to Kate Spade's Friday close. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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