Home / Knowledge / News / Apparel/Garments / PVH to offer common stock to finance acquisition of Tommy
PVH to offer common stock to finance acquisition of Tommy
21
Apr '10
Phillips-Van Heusen Corporation announced that it is commencing an offering of 4,500,000 shares of common stock (plus an additional 675,000 shares of common stock pursuant to a 30-day option granted to the underwriters to cover over-allotments, if any). In addition, the company announced today that it is commencing an offering of $525.0 million of senior unsecured notes due 2020. Both offerings are being made pursuant to the company's automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on April 20, 2010 and pursuant to separate preliminary prospectus supplements, each of which will also be filed with the SEC.

The company intends to use the net proceeds of the offering of common stock, after deducting underwriting discounts and commissions and offering expenses, to fund a portion of the purchase price for its proposed acquisition of Tommy Hilfiger B.V. and certain affiliated companies, including related fees and expenses. The completion of the offering of the common stock is not conditioned upon PVH's acquisition of Tommy Hilfiger and, if the company does not complete the acquisition, then it will use the net proceeds for general corporate purposes, including fees and expenses relating to the acquisition of Tommy Hilfiger that are payable whether or not the acquisition is completed.

The company will use the net proceeds of the offering of the notes, after deducting underwriting discounts and commissions and offering expenses, to repurchase or redeem its $150.0 million outstanding principal amount of 7¼% Senior Notes due 2011 and its $150.0 million outstanding principal amount of 8â...'% Senior Notes due 2013, including consent payments relating to a consent solicitation related to the tender for the notes and fees and expenses related to the tender and consent solicitation, as well as to fund a portion of the purchase price for its proposed acquisition of Tommy Hilfiger, including related fees and expenses. The offering of the notes is conditioned upon PVH's acquisition of Tommy Hilfiger and will not be completed if the company does not complete the acquisition.

Phillips-Van Heusen Corporation


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search