Oakley shareholders say yes to $29.30-per-share merger deal

By Lisa Kerner

Charlotte, N.C., Nov. 7 - Oakley, Inc. shareholders approved the company's merger with Luxottica Group SpA at a special meeting on Wednesday.

Approximately 83% of the total shares of Oakley common stock were voted in favor of the transaction, according to a company news release.

Oakley will become an indirect wholly owned subsidiary of the Milan-based eyewear company following the merger's completion, which is expected in mid-November.

It was previously reported that Luxottica would acquire Oakley for $29.30 per share in a deal valued at $2.1 billion.

Oakley, based in Foothill Ranch, Calif., specializes in sport performance optics including premium sunglasses, goggles and prescription eyewear.

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