Tod's soared by more than 17% in Milan, following the announcement by investment firm L Catterton, in agreement with Diego Della Valle (DDV), of a takeover bid for the shares of the manufacturer of luxury shoes, clothing and accessories.

This offer, at a price of 43 euros per share, would involve more than 11.9 million Tod's shares, representing 36% of the Italian fashion house's capital, with a view to delisting the stock from the Milan Stock Exchange.

DDV has agreed to contribute nearly 3.46 million shares to the takeover bid, representing more than 10.4% of Tod's capital. However, it would remain the majority shareholder with 54% of the capital, while LVMH, via its subsidiary Delfine, would retain its 10% stake.

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