Rocco Basilico rejects $3.9 billion bid for 12.5% Delfin stake
Rocco Basilico, identified as a Ray-Ban heir, just said no to a massive $3.9 billion offer from his stepbrother Leonardo Maria del Vecchio for his 12.5% stake in Delfin Sarl, the family investment company behind EssilorLuxottica (the family investment company behind EssilorLuxottica SA).
Leonardo Maria was hoping this move would give him more control over their late father's business empire.
Leonardo Maria del Vecchio drops lawsuits
This is not the first big-money bid, Leonardo Maria previously tried (and failed) to buy out other siblings for €10 billion after clashing with Delfin's board and chairman.
Even with all the tension, he is now calling for peace and has dropped legal actions against his siblings.
Meanwhile, Rocco recently sold part of his stake in Delfin to another family member, Clemente Del Vecchio, keeping things interesting within one of Europe's wealthiest families.