There’s the possibility of a bidding war. Arbs will probably have a small position in case there’s a bidding war. They will scale in if the spread widens.
Samsonite will need to file for merger approval under the Hart-Scott-Rodino Antitrust Improvements Act. The companies will need to file for Canadian antitrust approval.
On March 3, Samsonite and Tumi announced that Samsonite will buy Tumi in a $1.8 billion deal. The deal will be a cash transaction set at $26.75 per share.
