Coastal Contacts Inc. (COA, Financial)(0.2%) (COA - $11.21 - NASDAQ) is a Vancouver based direct-to-consumer optical products manufacturer and retailer, with over 5 million customers worldwide. On February 27, 2014, the company received a CAD 12.45 cash merger offer from Essilor International. Essilor is a French ophthalmic optics company and a world leader in the corrective lense space. The deal is currently pending approval by Canadian authorities and shareholders, and we expect the deal to close by mid-May.
From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.
