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EssilorLuxottica announced a 7.2 billion euro bid for GrandVision in July last year, aiming to control the Dutch eyewear group’s more than 7,000 outlets across the world.It filed the legal proceedings before a district court in Rotterdam, the Netherlands, after GrandVision did not respond to its requests for information on its handling of the pandemic, EssilorLuxottica said in a statement.”This is to assess the way GrandVision has managed the course of its business during the COVID 19 crisis, as well as the extent to which GrandVision has breached its obligations under the support agreement,” EssilorLuxottica said, referring to the M agreement.”Despite repeated requests, GrandVision has not provided this information on a voluntary basis, leaving EssilorLuxottica with no other option but to resort to legal proceedings,” it added, without elaborating.Article Sidebar Story continues belowThis advertisement has not loaded yet, but your article continues below. 27.The coronavirus pandemic has caused setbacks to M transactions in recent months, in some cases triggering requests from prospective buyers to amend agreed terms.Sources have told that LVMH Chief Executive Bernard Arnault has been exploring ways to potentially pressure M target Tiffany to lower the agreed price of $135 per share for their planned deal.EssilorLuxottica, formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, also owns the Oakley and Persol brands and Varilux lenses. (Reporting by Francesca Landini, editing by Clelia Oziel)Article Sidebar Share CloseShare this Story: EssiLux sues M target GrandVision to get COVID information Copy Link Email Facebook Twitter Reddit LinkedIn TumblrShare this article in your social network Share via email Share on Facebook Share on Twitter Open more share options CloseShare this Story: EssiLux sues M target GrandVision to get COVID information Copy Link Email Facebook Twitter Reddit LinkedIn TumblrIn depth reporting on the innovation economy from The Logic, brought to you in partnership with the ..

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