Essilor linked to Cooper as it closes glass plant

A research note last week by brokerage Oddo Securities suggested that Essilor might acquire contact lens firm Cooper Companies for €2.1bn, sparking a rise in Cooper's share price.

Essilor declined to confirm or deny the report, which was covered by French magazine Challenges, describing it as speculation.

The note, dated January 8, said that the acquisition of Cooper Companies would enhance Essilor earnings from year two and pointed out that Essilor had been on an acquisition spree in recent years.

'Although other players in the contact lens market are natural predators, Essilor may also be interested. The group has made no secret of the fact that it is considering a strategic acquisition in 12-18 months. Moreover, contact lenses are one of the possibilities being explored by Essilor,' said Oddo.