Takeovers 

EssilorLuxottica sues its takeover target

EssilorLuxottica sues its takeover target

EssilorLuxottica (FR:EL) – the maker of Ray-Ban sunglasses – has initiated legal proceedings against GrandVision (NL:GVNV), the Dutch optical retailer it is looking to acquire. EssilorLuxottica says it is seeking access to information about how GrandVision has managed its business during the Covid-19 pandemic, alleging the group has breached an agreement to keep it updated. GrandVision denies it has broken the contract terms, saying it has “full confidence that these claims will be rejected in court”.

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