Hacks over at the Financial Times won the bragging rights from rivals at the Wall Street Journal rivals after it emerged Estee Lauder beat rival Kering to the acquisition of luxury fashion brand Tom Ford.
Below is the link to the press release from a few days ago:..
Last week hacks at the Wall Street Journal were boasting about a scoop - that Kering (the owner of Gucci) was in "advanced talks" to buy menswear brand Tom Ford for around $3 billion. Below is the link:
It's that time of the year where folk in the City of London tend to put their feet up as colleagues drift away on summer holidays in the Meditteranean.
And this summer bankers, lawyers and private equity practitioners are all doubly keen to get away for as long as possible after the last two years...
I see the top brass at Estee Lauder yesterday sent an internal "memo" to employees to quash the rather detailed takeover speculation aired in recent days, including by yours truly in The Sunday Times this/last weekend. Unsurprisingly, some financial media organisations ate it up in the usual manner of a pissing contest...