HONG KONG: Luggage giant Samsonite said on Friday it would buy US luxury bag maker Tumi in a deal worth $1.8 billion that analysts said would give the firm a foothold in the lucrative Chinese high-end market.
In a statement to the Hong Kong exchange, where it listed five years ago, Samsonite said it would pay $26.75 a share for the firm—a third more than its value on Wednesday before the likely buyout was sounded.
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