Italian luxury shoemaker Tod’s has decided to no longer proceed with its plan to delist the company. This decision was made after the buyout offer made by Tod’s founder and Chairman Diego Della Valle and his brother Andrea failed to secure the required level of support. The Della Valle family had offered to buy out other investors at a price of 40 euros per share, but they were unable to gather the necessary 90% support.
Diego Della Valle acknowledged that some shareholders believed the value of Tod’s was higher than the offered price and preferred to retain their shares. He expressed the company’s commitment to engaging with these shareholders and continuing to work towards the growth and success of Tod’s.
The decision not to pursue the delisting plan was driven by the desire to maintain a market-friendly approach and avoid any hostile actions. Tod’s aims to uphold its reputation as a company that values the opinions and interests of its shareholders.
The alternative option of merging with DeVa Finance, the holding company of the Della Valle family, is also not being pursued. Tod’s will remain a publicly traded company, allowing investors to participate in its future growth and success.
This announcement highlights the significance of shareholder support in shaping a company’s strategic decisions. It also emphasizes Tod’s commitment to transparency and openness in its relationship with shareholders.
Tod’s, renowned for its high-quality luxury shoes, has been a prominent figure in the fashion industry for many years. By maintaining its status as a publicly traded company, the brand can continue to focus on its core business and drive innovation in the luxury shoe market.
The decision to abandon the delisting plan may have implications for Tod’s stock price and market perception. Shareholders and investors will closely monitor the company’s next steps and how it plans to address the concerns raised by shareholders who decided to retain their shares.
Overall, Tod’s remains dedicated to delivering value to its shareholders and preserving its position as a leading luxury shoe brand. This decision reflects the company’s commitment to market-friendly practices and respect for the opinions and interests of its shareholders. As Tod’s pursues growth and success, effective engagement with shareholders will be crucial to foster a strong relationship based on trust and mutual benefit.
For more information on Tod’s decision, please visit:
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