Yoox to Merge With Net-a-Porter in All-Share Deal

Apr 01, 2015 582

The Yoox Group said on Tuesday that it had agreed to merge with its luxury e-commerce rival Net-a-Porter in an all-share deal. The transaction would create an online luxury fashion retailer from two companies that combined to post revenue of 1.3 billion euros, or about $1.4 billion, in 2014, Yoox said. The new company would be called Yoox Net-a-Porter Group.

The agreement comes more than a year after the first reports that Yoox was exploring a purchase and a day after the companies confirmed they were considering a potential "business combination." It also followed speculation last week that Amazon was interested in acquiring Net-a-Porter.

Read more

Source: http://www.nytimes.com/

You may be interested