Tod’s Buyout Bid’s Take-Up Lags on Last Day of Offer

Tod’s investors representing just 4.5 percent of the Italian luxury shoemaker’s capital have tendered their shares under a buyout bid launched by the founders, leaving the Della Valle family just one day to get to the targeted threshold.

To proceed with the proposed delisting of Tod’s and make their revamp plans easier, the Della Valle need to reach a 90 percent ownership threshold.

The Della Valles control 64.5 percent of Tod’s and can…