Coastal Contacts Inc. ( COA )(0.2%) (COA - $11.21 - NASDAQ) is a Vancouver based direct-to-consumer optical products manufacturer and retailer, with over 5 million customers worldwide. On February 27, 2014, the company received a CAD 12.45 cash merger offer from Essilor International. Essilor is a French ophthalmic optics company and a world leader in the corrective lense space. The deal is currently pending approval by Canadian authorities and shareholders, and we expect the deal to close by mid-May.
From Mario Gabelli ( Trades , Portfolio )'s first quarter 2014 ABC Fund commentary.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
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