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Majority of Gant reject Lacoste bid: shareholder
STOCKHOLM (Reuters) - Owners representing more than 55 percent of shares in clothing retailer Gant GANT.ST have rejected a bid from Lacoste-brand owner Maus Freres S.A., shareholder Ricon SGPS SA said on Monday.
Switzerland's Maus Freres earlier this month offered 310 Swedish crowns per share for the Sweden-based firm, valuing it at about 5.2 billion Swedish crowns ($801 million)
Ricon, which holds 8.3 percent of Gant according to data dated September 28 from the SIS shareholding register, said in a statement four of Gant's largest franchisers and its three founders would not accept the cash offer from the Swiss firm.
Franchiser Delveste chief Pedro Silva said in the statement Delveste had 9.9 percent of Gant. He said Gant's brand, business model and management were key factors behind the firm's success.
"It is my firm belief Gant's future potential will best be safeguarded in an environment as an independent listed firm," he said.
The acceptance period for the bid runs from December 18 to January 11. Shares in Gant traded at 307 crowns at 0422 EST, down 1 percent.
(Reporting by Anna Ringstrom; Editing by Quentin Bryar)
