LONDON (ShareCast) - (ShareCast News) - Michael Kors' acquisition of Jimmy Choo has been given unconditional clearance by the European Commission following a Phase 1 review.
Jimmy Choo agreed back in July to be bought by Michael Kors for £896m.

Under the terms of the deal, Jimmy Choo shareholders will receive 230p per share, with an enterprise value of around $1.35bn.

The transaction, which got Russian antitrust clearance in September, is expected to give Jimmy Choo the opportunity to grow sales to $1bn and allow for a more balanced portfolio with greater diversification.

At 1505 BST, the shares were flat at 229.60p.

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