Richemont stock jumps because it would have rejected Kering advances

Richemont stock jumps because it would have rejected Kering advances

Kering may have made advances to Richemont. And the Swiss group would have returned the interest to the sender. It is a rumour bounced off the web, not confirmed to Reuters by those directly involved, but sufficient to have real consequences. Because, in the meantime, Richemont stock is up on the stock market. We return, therefore, to talk about the possible merger between the two giants of luxury. According to some online portals, there would have been concrete action. Even an offer. Kering would be on the hunt, because in recent days it seems to have courted Ralph Lauren too.

Richemont stock

Let’s start with the established fact. And, that is, that on March 22, 2021, the shares of Richemont group opened higher. According to Reuters, this is due to the fact that the Swiss giant, owner of Cartier and some fashion brands such as Chloé, would have rejected an offer from Kering. The news was published on last January, they write, Kering would have submitted an informal acquisition offer to Richemont. Citing unidentified informed sources, the fashion blog reports that it would be Kering CEO himself, Francois-Henri Pinault (pictured), who presented the cash and stock offering to Richemont’s president, Johann Rupert. The latter refused it, deeming it unsatisfactory: he has not even presented it to the board of the Swiss group. Richemont would have appointed Goldman Sachs as an advisor. Kering’s attempt is read as an attempt to respond to LVMH, which acquired Tiffany.

And Ralph Lauren

Kering’s goal would seem to be to close a major acquisition. In recent days, according to rumours, Ralph Lauren would have been approached by an unidentified suitor. But as ThisisMoney reports, according to people familiar with the matter, the suitor is Kering. Obviously, no comments from either side.

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