EssilorLuxottica Seeks To Appeal The Court’s Decision

EssilorLuxottica Seeks To Appeal The Court's Decision

Making a spectacle of the court’s decision EssilorLuxottica, the spectacles manufacturer stated on Tuesday that it might appeal against the verdict regarding its planned acquisition of GrandVision. The deal is in jeopardy after it lost the case.

Notably, the previous day, the Rotterdam district court had ruled that EssilorLuxottica failed to acknowledge the claim that GrandVision, the Dutch company had violated the takeover agreement terms by not seeking permission to combat the adversaries caused by the extension of coronavirus pandemic pan Europe.

In a statement,  EssilorLuxottica said it was examining the judgement and searching the possibility of options to file an appeal against the verdict. It further added that the company was concerned about GrandVision’s stance to deny access to vital pieces of information regarding their tackling of the Covid-19 epidemic.

Interestingly, the mother company of brands like Oakley and Ray-Ban had told the court that GrandVision’s discretion of applying for state’s aid and suspension of payments to suppliers and store owners could lay enough grounds for terminating its 7.2 billion euro worth of takeover.

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