Coastal Contacts Inc COA

NEWS OUT: Essilor to buy COA $430MM

[robvanhooren]

News out.

https://finance.yahoo.com/news/essilor-buy-coastal-contacts-c-065520090.html 

and

https://finance.yahoo.com/news/lens-maker-essilor-bets-sunwear-070643765.html


GLTA,


R.

 --

Essilor to buy Coastal Contacts for C$430 million

 

Feb 27 (Reuters) - Essilor International will buy Coastal Contacts Inc , a digital retailer of eyeglasses and contact lenses, for C$430 million ($388.2 million), Coastal said on Thursday.

Essilor will buy all of the issued and outstanding common shares of Coastal.com for C$12.45 per share, representing a premium of about 20 percent to Coastal stock's Wednesday close on the Toronto Stock Exchange.

Last year Essilor bought Costa Inc, a maker of premium sport sunglasses, for $270 million to tap into the growing prescription sun lens market.

The Coastal.com board has recommended that shareholders of Coastal.com vote in favour of the agreement, Coastal said in a statement.

The transaction is expected to close in the second quarter of 2014, Coastal said.
 

[robvanhooren]

another reference, this time for $445MM, about $12.45/share. includes comments by Hardy. https://ca.finance.yahoo.com/news/clearlycontacts-operator-coastal-com-being-bought-445m-frances-050504709.html GLTA, R. -- ClearlyContacts operator Coastal.com being bought for $445M by France's Essilor By The Canadian Press VANCOUVER