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However, in October 1985, Investcorp divested 49% of its ownership in the company at $22 a share and the rest 6 months later at $48 a share. So ownership was widely dispersed at the time De Sole and Ford began to run the company. It was due to their combined efforts that the company stood revitalized within 5 years of Ford being appointed Creative Director in 1994. In analyst’s opinions, Gucci was a viable enterprise with takeover potential by early 1999.
What started off possible takeover concerns was the 9.5% ownership of Gucci stock by the Italian fashion house Prada. LVMH under its President/CEO Bernard Arnault had already made a bid for Gucci in 1994 but considered the asking price of $350 Million too steep at that time...
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