Moncler surges as Kering said to consider bid
By Michele Maatouk
Date: Thursday 05 Dec 2019
(Sharecast News) - Shares of luxury down jacket and ski wear maker Moncler surged on Thursday following a report that France's Kering could be interested in buying the company.
According to Bloomberg, Gucci and Saint Laurent owner Kering has held exploratory talks with Moncler about a potential deal for the Italian group.
Bloomberg cited people with knowledge of the matter as saying that senior executives at Kering have held preliminary discussions about a combination, although there is no certainty these will lead to a deal.
At 0850 GMT, Moncler shares were up 9.8% at €42.65 while Kering shares were 1.5% higher at €546.50.
CMC Markets analyst David Madden said: "There seems to be M&A activity in the luxury sector recently seeing as LVMH agreed to acquire Tiffany. It is possible the latter deal set the wheels in motion for the Moncler-Kering potential tie-up. High-end brands usually outperform whenever there is a cooling in the wider retail sector as the super-rich can usually afford to keep spending."
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