Samsonite International S.A. said on Friday it would buy Tumi Holdings Inc (TUMI) for $26.75 per share in an all-cash transaction valuing Tumi at $1.8 billion, as the world’s biggest luggage group expands in the luxury market.
Hong Kong-listed Samsonite said it would finance the deal with bank loans and that the transaction was expected to close in the second half of the year subject to regulatory and shareholder approvals.
