Della Valle secures financing to take Tod's private

Italian businessman Diego Della Valle secured a €420 million ($409 million) loan from BNP Paribas' BNL unit, Crédit Agricole and Deutsche Bank to purchase the remaining shares in Italian leather goods company Tod's, Bloomberg reports.

Why it's the BFD: While retail M&A has struggled, the luxury market is percolating with potential deals from Tom Ford to Giorgio Armani, and the ability of Tod's CEO to secure financing is a positive sign there may be more transactions this year.