Slaughter and May is advising Michael Kors on its £896 million recommended cash acquisition of Jimmy Choo

Slaughter and May is advising Michael Kors Holdings Limited (Michael Kors) in relation to its recommended cash offer for Jimmy Choo plc (Jimmy Choo).

Under the terms of the acquisition, Jimmy Choo shareholders will receive 230 pence in cash for each Jimmy Choo share. The terms of the acquisition value Jimmy Choo at approximately £896 million.

The acquisition, which was announced on 25 July 2017, is to be implemented by way of a transfer scheme of arrangement. The acquisition will be subject to, among other things, conditions relating to the receipt of regulatory approvals in the EU, US and Russia and the approval of Jimmy Choo’s shareholders.  It is expected that the acquisition will complete in the fourth quarter of 2017.

Slaughter and May is working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, who is advising on US corporate and financing aspects.