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Tabor Asset Management Releases Letter Questioning Tender Offer for Tod’s S.p.A.

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New York, NY, September 30, 2022 –(PR.com)– Tabor Asset Management, LP (“Tabor”), which beneficially owns approximately 0.4% of the outstanding ordinary shares of Tod’s S.p.A. (“Tod’s”), published an open public letter questioning the fairness of the terms of the voluntary tender offer (the “Offer”) at an offer price per ordinary share of €40.00 (the “Offer Price”) for all of the issued and outstanding ordinary shares of Tod’s. The Offer was initiated on 23 September, 2022, by DeVa Finance S.r.l. (“DeVa”), an entity indirectly controlled by the chief executive officer and chairman of the board of Tod’s, Mr. Diego Della Valle. The open letter can be found here.

Central to Tabor’s argument is that Mr. Della Valle, acting through DeVa, is taking advantage of the current extraordinary macroeconomic backdrop pressuring company stock prices throughout the luxury sector, while offering shareholders little…

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