Tumi Holdings Inc
Company & Industry Overviews
The US leveraged loans market saw an allocation of $7.6 billion worth of dollar-denominated senior loans in the week to April 15.
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.
The $42 purchase price was a high premium of over 33% to where Tumi (TUMI) was trading on March 2, 2016—the day before the deal was announced.
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.
Hong Kong-based Samsonite is buying luxury brand Tumi (TUMI) in a $1.8 billion deal. Samsonite is mainly known as a utilitarian luggage company.
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.