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    TOD   IT0003007728

TOD'S S.P.A.

(TOD)
  Report
Delayed Borsa Italiana  -  11:35 2022-09-28 am EDT
41.72 EUR   +0.29%
09/21Italy's market watchdog approves bid to take Tod's private
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09/19MarketScreener's World Press Review : September 13, 2022
MS
09/08Guess who's coming to visit?
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Tod's Shares Surge as Owners Bid to Go Private

08/03/2022 | 04:36am EDT

By Joshua Kirby


Shares in Tod's SpA rose sharply on Wednesday after its founding family and main shareholder launched a takeover offer for most of the remaining shares in the Italian luxury shoe maker.

The family of Chairman and Chief Executive Diego Della Valle, grandson of the company's founder Filippo Della Valle, said it is offering 40 euros a share ($40.67) to buy 25.55% of the company's shares, which would leave it with a 90% stake. The family would then take Tod's private, delisting it from the Milan stock exchange.

At 0815 GMT, shares were up 21% at EUR40.36.

Taking Tod's private would allow greater operative autonomy for the group's brands, the family said. "The Della Valle family has decided to make a big investment in the Tod's Group in order to accelerate its development," it said in a release distributed by the company. "The pursuit of these medium- and long-term goals would be less easy maintaining the status of a listed company, given the limitations arising from the need to report results subject to short-term audits," it said.

French luxury-goods giant LVMH Moet Hennessy Louis Vuitton SE will continue to hold a 10% stake after the takeover, the family said. The group last year upped its stake from 3.2% previously; Mr Della Valle said shortly afterward that he would be open to selling a further stake to the company, of whose board he has been a member for 20 years.

Despite the positive market reaction, some minority shareholders might find the offer price too low, analysts at Citi said in a note following the news. The price offered might not fully reflect the turnaround potential of Tod's brand following years of lackluster sales, or the value of the Roger Vivier brand, they said.

"Niche and fast-growing brand Roger Vivier remains a valuable asset in our view, but a bit small in group context," the analysts added.


Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby


(END) Dow Jones Newswires

08-03-22 0436ET

Stocks mentioned in the article
ChangeLast1st jan.
CHRISTIAN DIOR SE 1.02% 592 Real-time Quote.-19.73%
LVMH MOËT HENNESSY LOUIS VUITTON SE 1.49% 613.2 Real-time Quote.-16.89%
TOD'S S.P.A. 0.29% 41.72 Delayed Quote.-15.58%
All news about TOD'S S.P.A.
09/21Italy's market watchdog approves bid to take Tod's private
RE
09/19MarketScreener's World Press Review : September 13, ..
MS
09/08Guess who's coming to visit?
MS
09/07Tod's sales rise 17% in H1, above pre-COVID levels
RE
09/07Tod's sales rise 17% in first half of year
RE
09/07EMEA Morning Briefing: Fears Over Hawkish Fed, Europe's Energy Cri..
DJ
09/07TOD'S S.p.A. Reports Earnings Results for the Half Year Ended June 30, 2022
CI
08/18Prima Industrie to go private after Femto takes majority stake
RE
08/04MarketScreener's World Press Review : August 4, 2022
MS
08/03Global markets live: Airbnb, Infineon, PayPal, Moderna, Starbucks...
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More news
Analyst Recommendations on TOD'S S.P.A.
More recommendations
Financials
Sales 2022 973 M 938 M 938 M
Net income 2022 17,2 M 16,6 M 16,6 M
Net Debt 2022 376 M 363 M 363 M
P/E ratio 2022 81,8x
Yield 2022 0,67%
Capitalization 1 381 M 1 331 M 1 331 M
EV / Sales 2022 1,81x
EV / Sales 2023 1,62x
Nbr of Employees 4 890
Free-Float 25,5%
Chart TOD'S S.P.A.
Duration : Period :
TOD'S S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TOD'S S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Last Close Price 41,72 €
Average target price 39,96 €
Spread / Average Target -4,21%
EPS Revisions
Managers and Directors
Andrea della Valle Vice Chairman & Co-Chief Executive Officer
Diego della Valle Chairman, President & Co-Chief Executive Officer
Emilio Macellari Chief Financial Officer & Executive Director
Luca Cordero di Montezemolo Independent Non-Executive Director
Luigi Abete Independent Non-Executive Director
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