Michael Kors Reportedly Set To Acquire Versace For $2 Billion

Michael Kors is nearing an agreement to acquire Versace, people familiar with the matter told Bloomberg. The deal, which values Versace at approximately $2 billion, could be announced as early this week. Donatella Versace, who has helped run the company with her brother Santo Versace since the 1997 murder of founder Gianna Versace, has scheduled a meeting with employees for Sept. 25 to announce the sale, according to two people familiar with the situation. The Versace family, which owns 80% of t...