Brokerage Says Essilor May Buy Cooper Companies

Essilor International, a Paris, France optics manufacturer, was looking at acquiring Lake Forest, CA-based contact lens manufacturer Cooper Companies for $2.7 billion, according to brokerage Oddo Securities in a research note this week.

Essilor, the world’s largest maker of eye lenses, including the Airwear and Varilux brands, declined to confirm or deny the report’s content which it called speculation. “We don’t comment on speculation,” a spokeswoman said.

Essilor has been on an acquisition spree in recent years, snapping up prescription lens laboratories in North America, Europe and India. It made 20 acquisitions in the first nine months of 2006, and 18 companies in 2005.

The Oddo Securities note, which was dated January 8, said that an acquisition of Cooper Companies by Essilor would enhance earnings in the second year.