Samsonite Nears Deal to Buy Tumi

Samsonite International SA, the world’s largest branded-luggage maker, is nearing an acquisition of luxury luggage maker Tumi Holdings Inc., and a deal could be announced as soon as this week, The Wall Street Journal reported, citing unnamed people familiar with the matter. Exact terms of a deal couldn’t be learned, but South Plainfield, New Jersey-based Tumi could be valued at close to $2 billion, based on a “typical premium,” and the company’s $1.4 billion market value, according to the Journal.