U S Shoe Corp

United States Shoe Corp. lost a U.S. Supreme Court appeal Tuesday that it called a test case for thousands of companies seeking $700 million in interest on the refund of a federal harbor tax on exports. The company said at least 7,500 companies sought refunds after the justices struck down the federal harbor maintenance tax on exported goods in 1998.

Italian Firm Offers $1.1 billion for U.S. Shoe: Italian eye wear maker Luxottica Group mounted a drive to acquire U.S. Shoe Corp., parent of the LensCrafters chain, for $1.1 billion, but the price did not immediately tempt U.S. Shoe. Luxottica, which sells eyeglasses worldwide, said it was making its $24-a-share offer directly to shareholders after it had been rebuffed by U.S. Shoe executives about a friendly merger.

Luxottica Group to Sell Shoe Unit: The Italian eyewear maker that bought United States Shoe Corp. for $1.4 billion last month said it is selling the former U.S. Shoe women's apparel business. Luxottica said it has signed a letter of intent to sell the Women's Specialty Retailing Group to Casual Corner Group, an American company controlled by La Leonardo Finanziaria. The companies would not disclose the purchase price or say when the sale will be completed.

Luxottica Group to Pay $1.4 Billion for U.S. Shoe Corp. The Italian retailer said it reached a definitive agreement to buy the owner of Lenscrafter's, Casual Corner women's wear, Capezio and Evan-Picone footwear for $28 a share in cash. The offer represents an increase from the $24 a share, or $1.11 billion, Luxottica originally offered on March 3 when it began an uninvited takeover of the Cincinnati-based retailer. Luxottica will keep U.S.

U.S. Shoe Corp., a diversified manufacturer and retailer of shoes, clothing and eye-care products, said Monday that it has retained Merrill Lynch & Co. to explore a possible sale of all or part of the company. The announcement sent U.S. Shoe's stock sharply higher. It rose $5.875 to close at $24.50 a share on the New York Stock Exchange. U.S.

U.S. Shoe Corp. on Thursday rejected a $1.1-billion takeover bid from Italy's Luxottica Group and said it will instead sell its footwear division to Nine West Group Inc. for about $600 million. The Cincinnati-based company, which also owns the Lenscrafters optical chain and women's clothing stores, said its directors rejected Luxottica's offer as inadequate and recommended that shareholders not sell their stock.

A hostile takeover fight for U.S. Shoe Corp. ended peacefully Sunday night when the company said it agreed to a sweetened, $1.3-billion buyout offer from Italy's Luxottica Group. The tentative pact was struck after Luxottica raised its bid to $28 in cash for each of U.S. Shoe's 46.7 million common shares outstanding. Luxottica had on March 3 launched an unsolicited bid of $24 a share, which U.S. Shoe had rejected as inadequate. U.S. Shoe's stock closed at $26.

A hostile takeover fight for U.S. Shoe Corp. ended peacefully Sunday night when the company said it agreed to a sweetened, $1.3-billion buyout offer from Italy's Luxottica Group. The tentative pact was struck after Luxottica raised its bid to $28 in cash for each of U.S. Shoe's 46.7 million common shares outstanding. Luxottica had on March 3 launched an unsolicited bid of $24 a share, which U.S. Shoe had rejected as inadequate. U.S. Shoe's stock closed at $26.

U.S. Shoe Corp. on Thursday rejected a $1.1-billion takeover bid from Italy's Luxottica Group and said it will instead sell its footwear division to Nine West Group Inc. for about $600 million. The Cincinnati-based company, which also owns the Lenscrafters optical chain and women's clothing stores, said its directors rejected Luxottica's offer as inadequate and recommended that shareholders not sell their stock.

Italian Firm Offers $1.1 billion for U.S. Shoe: Italian eye wear maker Luxottica Group mounted a drive to acquire U.S. Shoe Corp., parent of the LensCrafters chain, for $1.1 billion, but the price did not immediately tempt U.S. Shoe. Luxottica, which sells eyeglasses worldwide, said it was making its $24-a-share offer directly to shareholders after it had been rebuffed by U.S. Shoe executives about a friendly merger.

United States Shoe Corp. lost a U.S. Supreme Court appeal Tuesday that it called a test case for thousands of companies seeking $700 million in interest on the refund of a federal harbor tax on exports. The company said at least 7,500 companies sought refunds after the justices struck down the federal harbor maintenance tax on exported goods in 1998.

U.S. Shoe Corp., a diversified manufacturer and retailer of shoes, clothing and eye-care products, said Monday that it has retained Merrill Lynch & Co. to explore a possible sale of all or part of the company. The announcement sent U.S. Shoe's stock sharply higher. It rose $5.875 to close at $24.50 a share on the New York Stock Exchange. U.S.