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Richemont makes €2.8bn bid to acquire Yoox Net-A-Porter Group

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Luxury fashion company Richemont has made a bid to acquire online retailer Yoox Net-A-Porter Group. Swiss-based Richemont – which owns high-end brands such as Cartier, Montblanc and Dunhill London – already has a stake in the YNAP Group but it has made a public tender offer to buy the 75 per cent of shares it does not own for €38 (£33.5) per share. The takeover bid, which is estimated to be worth €2.8 billion (£2.4 billion), would only go ahead once it is approved by YNAP Group shareholders.

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Richemont makes €2.8bn bid to acquire Yoox Net-A-Porter Group

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