Tabor urges the board, shareholders and the interested public to consider whether the tender offer is in the best interests of all Tod’s shareholders

New York, NY September 30, 2022 –(PR.com). (the “Offer”) at an offer price per common share of €40.00 (the “Offer Price”) for all issued and outstanding common shares of Tod’s. The Offering was initiated on September 23, 2022 by DeVa Finance Srl (“DeVa”), a company indirectly controlled by Tod’s Chief Executive Officer and Chairman of the Board, Mr. Diego Della Valle. The open letter can be found here here.

Central to Tabor’s argument is that Mr. Della Valle, acting through DeVa, is taking advantage of the current exceptional macroeconomic backdrop, which is depressing company share prices across the luxury sector, while leaving shareholders little choice but to invest in a to participate in badly rated business. Tabor urges the board to work with DeVa to improve the terms of the offer, including by increasing the offer price, and urges shareholders to reconsider accepting the offer at the current price, which Tabor Tod’s and undervalued the group’s individual brands (i.e. Tod’s, Roger Vivier, Hogan and Fay). Tabor urges each interested party to decide for themselves whether the board has done enough to protect the interests of the average shareholder given the outsized influence that Mr. Della Valle has through his insider role and massive indirect holding.

Along with his open letter, Tabor released a letter to the board of directors on August 18, 2022, raising legitimate concerns about the offer price and timing of the offer and urging the board to protect the interests of the minority shareholders. That…