The Office for Fair Trading (OFT) has approved the acquisition of sunglass maker Oakley Inc by eyewear company Luxottica Group.
The Office for Fair Trading (OFT) has approved the acquisition of sunglass maker Oakley Inc by eyewear company Luxottica Group.
As reported in Optician, (News, August 31), the OFT had said that it was considering whether the acquisition of Oakley Inc by the Luxottica Group created a merger situation under the Enterprise Act 2002.
At the time, an OFT spokeswoman said that the process was a 'routine procedure' for a merger of this size. Interested parties had up until September 6 to comment of the merger.
As reported in Optician, (News, June 29), Luxottica acquired Oakley for $2.1bn - a deal which had been recommended to Oakley shareholders by its board of directors.