Bling Fling: Coach Will Spend $2.4B on Kate Spade - NBC Connecticut

Bling Fling: Coach Will Spend $2.4B on Kate Spade

Coach will pay $18.50 per share of Kate Spade & Company under the deal

    processing...

    NEWSLETTERS

    Bling Fling: Coach Will Spend $2.4B on Kate Spade
    Brian Ach/Getty Images, File

    Coach will spend $2.4 billion for Kate Spade, tying together two premier brands in the luxury goods sector that have fought to snare younger shoppers.

    Noting that crucial demographic, Coach Inc. CEO Victor Luis said in a company release Monday that Kate Spade has a "strong awareness among consumers, especially millennials."

    Coach will pay $18.50 per share of Kate Spade & Company. That's a 9 percent premium to its Friday closing price of $16.97.

    The boards of both New York companies have approved the deal, which is targeted to close in the third quarter.

    'Tonight': Rachel Brosnahan Still Plays 'Pokemon Go'

    [NATL] 'Tonight': Rachel Brosnahan Still Plays 'Pokemon Go'

    "Marvelous Mrs. Maisel" actress Rachel Brosnahan talks about being nervous to host "Saturday Night Live," adding new awards to her "toilet shelf" and her and her husband's obsession with "Pokemon Go."

    (Published Friday, Jan. 18, 2019)

    Kate Spade's stock surged more than 8 percent before the opening bell.