PARIS—French optical lens maker Essilor International SA and Italian frames maker Luxottica Group SpA said Monday they have agreed to merge, creating an eyewear industry giant with a market value of around €46.3 billion ($49.16 billion). Italian holding company Delfin—which is Luxottica’s main shareholder and will also be the leading shareholder of the new entity—will exchange its shares in the Italian maker of Ray-Ban and Oakley...

Source: Wall Street Journal January 16, 2017 06:19 UTC