By Ed Frankl

EssilorLuxottica SA has launched a takeover bid for the remaining shares of Dutch eyewear retailer GrandVision NV that it doesn't already own, the two companies said late Thursday.

The Ray-Ban maker said it would offer 28.42 euros ($32.83) for each outstanding GrandVision share, the same price as the offer that enabled it to acquire a controlling 76.7% stake from HAL Holdings in July.

The Franco-Italian group now owns around 86.7% of shares in GrandVision, having amassed a further 10% stake in two transactions in September.

The board of GrandVision unanimously recommended shareholders accept the offer, the companies said in a joint press release.

The offer acceptance period begins at 0700 GMT on Friday and ends at 1640 GMT on Dec. 3, they said.

Write to Ed Frankl at

(END) Dow Jones Newswires

10-08-21 0150ET