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La Senza soars with bid from Victoria's Secret owner |
MONTREAL — Shares of La Senza soared by almost half in early Thursday trading after the American owner of Victoria's Secret announced it will pay $710 million for the Canadian lingerie rival.
The friendly takeover by Limited Brands was announced late Wednesday.
La Senza shares were up 46.1 per cent, or $15.01, to $47.80 on trading volume of 203,883 on the Toronto Stock Exchange.
Limited Brands will scoop up all the outstanding shares of La Senza for $48.25 per share in cash.
