French billionaire Bernard Arnault moved to consolidate control over Christian Dior for about 12.1 billion euros ($13.2 billion), folding the fashion house’s operations into the LVMH luxury empire in one of his biggest transactions.
The deal unites ownership of one of the most iconic fashion brands under one roof for the first time in decades, valuing Paris-based Christian Dior SE at 260 euros a share, according to a statement Tuesday. That’s 15 percent above the Monday closing price of Dior, which Arnault’s family already controls with a 74 percent stake.

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