EU Approves Jimmy Choo – Michael Kors Deal
RTTNews.com) – Jimmy Choo PLC (CHOO.L) and Michael Kors ( KORS ) said that the European Commission confirmed on 9 October 2017 that it has cleared unconditionally Acquisition of Jimmy Choo by Michael Kors following a Phase I review. All Conditions to the Scheme relating to merger control have now been satisfied.
On 25 July 2017, Jimmy Choo PLC and Michael Kors Holdings announced that they had reached agreement on the terms of a recommended cash acquisition by which the entire issued and to be issued ordinary share capital of Jimmy Choo will be acquired by JAG Acquisitions (UK) Limited, a wholly-owned subsidiary of Michael Kors.
The Scheme remains subject to the sanction by the Court at the Scheme Court Hearing and the satisfaction of the other Conditions to the Scheme. Subject to the Scheme receiving the sanction of the Court and the satisfaction or, where applicable, the waiver of the other Conditions, the Scheme is expected to become effective on 31 October 2017.
Michael Kors, Gwyneth Paltrow, and More at the God’s Love We Deliver Golden Heart Awards
Last night, Michael Kors, alongside honorary chairwoman Anna Wintour, hosted the annual God’s Love We Deliver Golden Heart Awards in New York City, which, this year, recognized Gwyneth Paltrow, Jordan Roth, and Jon Gilman. For an organization dedicated to delivering more than 6,000 meals each weekday, there was no shortage of bold culinary forces present, as several celebrity chefs—including Michael Anthony, Amanda Freitag, and Sandra Lee—crafted hors d’oeuvres for guests to nibble on during cocktail hour, like citrus-cured arctic char, Maryland crabmeat crostini, and bacon-wrapped scallop skewers. There was also no shortage of star power, as Leonardo DiCaprio, Maggie Gyllenhaal, and more made their way from one chef’s station to the next as “Moon River” and classic tunes from the Breakfast at Tiffany’s soundtrack played in the background. The Henry Mancini melodies seemed fitting given the Spring Studios setting, which provided stunning views of the Manhattan skyline at golden hour.
Once the sun had set over the Hudson River, all eyes were on Kors. “At the root of God’s Love We Deliver, it’s about nutrition [and] it’s about food,” he said. “To have this amazing group of chefs volunteer to cook for cocktails, and for people to really connect to this food, is at the heart of tonight.” Everyone seemed to have a taste for his Michael Kors Collection, as many came dressed in the designer’s latest. “I love his zest for life,” said Hilary Rhoda in a merlot and black cheetah-embroidered sheath from the Fall ’17 season. “His personality is larger than life, and I think that translates into the turnout for this event and in everything he does.” Cochair Kate Hudson also stunned in a custom beaded asymmetrical dress so eye-catching that even her new buzz cut couldn’t steal the focus from her head-to-toe embellishment. “I would have worn this dress either way!” she said, emphasizing that her choice of attire on the red carpet would withstand any beauty transformation. Amber Valletta took sartorial cues from Mr. Kors, as well. “Michael picked this one out specifically,” she said. “And, of course, I trust him!” The supermodel said she also trusts in the good of God’s Love We Deliver. “When you’re giving your time or your financial support, you actually know where it is going,” she said. “You know it’s helping the community, and there are so many people who need a meal delivered and a friendly face with a warm smile when they see that person at the door. It just works.”
On hand to present Roth with the Golden Heart Award for Lifetime Achievement was Andrew Rannells, who worked with the recipient on the Broadway production of Falsettos. Rannells paid homage to his friend in a pair of Gucci loafers. “I used to wear the knockoffs,” he joked on the red carpet. “Until opening night, when [Roth] gave me the real thing.” The actor rhapsodized about the producer’s unique personal style as well as his singular ability to create professional relationships even behind the curtain. “He takes great pains to welcome everyone, to introduce all of the front of house to the back of house, and no other producer does that,” Rannells said. “It’s a really lovely way to start a show and already feel like you’re at home.”
The evening was also a reunion for Kors and Paltrow, who first met in Paris 23 years ago, when he was designing for the house of Céline and she was on a break from filming The Talented Mr. Ripley. Taking the podium to present Paltrow with the Michael Kors Award for Outstanding Community Service, Kors said: “I have learned that she is truly one of these women who can, in fact, do it all. She’s smart; she’s strong; she’s funny; she’s a great mom, a fabulous friend, a successful businesswoman, an Academy Award–winning actress, a kick-ass singer, and incredibly chic all at the same time.” He continued, “For someone who has lived a very bicoastal life, Gwyneth’s sense of community and her loyalty to foster an organization like God’s Love has never faltered.”
While Paltrow has been an ardent supporter of the food bank in New York City as well the L.A. Kitchen, she looked every inch the California girl when she floated onstage wearing one of Kors’s suntan-allusion party dresses with silver leaf–sequined embroidery. “It’s so important that we all tune into that line of energy,” she said of rallying together for change. “Everything is in community.” A fitting final sentiment for a night that brought out positive vibes (and plenty of good food) during tough times.