Kate Spade & Co. (1.3%)(KATE–$18.49–NYSE)(NYSE:KATE) is a New York, New York based apparel and accessories retailer. On May 8, 2017 KATE agreed to be acquired by Coach, Inc. for $18.50 per share in cash representing a $2.4 billion enterprise value. The deal is contingent upon KATE shareholders meeting the minimum tender condition and it requires regulatory approval. The companies expect to close the transaction in the third quarter of 2017.
From Mario Gabelli (Trades, Portfolio)'s second quarter 2017 Gabelli ABC Fund commentary.
