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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  EssilorLuxottica    EL   FR0000121667

ESSILORLUXOTTICA

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EssilorLuxottica : EU Opens In-Depth Probe Into EssilorLuxottica Takeover of GrandVision

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02/06/2020 | 01:03pm EDT

By Cristina Roca

European Union antitrust authorities have opened a full-scale investigation into EssilorLuxottica 7.2 billion euro ($7.93 billion) deal to buy Dutch peer Grandvision on concerns that it may reduce competition.

The European Commission, the bloc's antitrust authority, said Thursday that its initial market investigation raised several issues about combining the Franco-Italian company's strong market position in the wholesale supply of lenses and eyewear with GrandVision's leading presence in retail distribution of these products.

EssilorLuxottica and GrandVision decided not to submit commitments to address the commission's preliminary concerns during this initial investigation, the commission said.

In the in-depth investigation launched Thursday, the commission "will investigate whether such changes in the competitive landscape of the optical industry could lead to adverse effects on competition, such as increased prices or reduction of choice of optical products for final consumers," it said in a press release.

The commission will decide by June 22, it said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

Stocks mentioned in the article
ChangeLast1st jan.
ESSILORLUXOTTICA 1.47% 97.76 Real-time Quote.-29.06%
GRANDVISION N.V. 2.68% 22.95 Delayed Quote.-18.49%
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Financials (EUR)
Sales 2019 17 386 M
EBIT 2019 2 772 M
Net income 2019 1 334 M
Debt 2019 2 272 M
Yield 2019 2,21%
P/E ratio 2019 27,1x
P/E ratio 2020 26,8x
EV / Sales2019 2,55x
EV / Sales2020 2,62x
Capitalization 42 081 M
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Technical analysis trends ESSILORLUXOTTICA
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 126,61  €
Last Close Price 96,34  €
Spread / Highest target 55,7%
Spread / Average Target 31,4%
Spread / Lowest Target -6,58%
EPS Revisions
Managers
NameTitle
Leonardo del Vecchio Executive Chairman & Chief Executive Officer
Laurent Vacherot President, Co-COO & Non-Independent Director
Paul du Saillant Co-Chief Operating Officer
Jean Carrier-Guillomet Co-Chief Operating Officer
Stefano Grassi Co-Chief Financial Officer
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1st jan.Capitalization (M$)
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LULULEMON ATHLETICA INC.-19.93%24 673
VF CORPORATION-50.71%21 346