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Tumi shareholders back Samsonite acquisition plan

Published 07/12/2016, 09:59 PM
Updated 07/12/2016, 10:10 PM
© Reuters. Specialist trader Pistillo Jr.  gives the price for Tumi Holdings Inc. at the post where the stock is traded on the floor of the New York Stock Exchange
TUMI
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HONG KONG (Reuters) - Luggage maker Tumi Holdings Inc's (N:TUMI) said its shareholders have backed Samsonite International S.A.'s <1910.HK> planned acquisition of the company and that it expects the deal to be completed in the second half of the year.

Samsonite said in March that it would buy Tumi for $26.75 per share in an all-cash transaction valuing Tumi at $1.8 billion, part of expansion plans by the world's biggest luggage group to grab more of the luxury market.

The deal still needs to be approved by Samsonite shareholders.

© Reuters. Specialist trader Pistillo Jr.  gives the price for Tumi Holdings Inc. at the post where the stock is traded on the floor of the New York Stock Exchange

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