Home / Knowledge / News / Apparel/Garments / Volcom board recommends stockholders accept PPR's offer
Volcom board recommends stockholders accept PPR's offer
12
May '11
Volcom Inc announced that its Board of Directors unanimously recommends that Volcom's stockholders tender their shares to PPR S.A. (FR 0000121485, PRTP.PA, PPFP) at the previously announced price of $24.50 per share of Volcom's common stock.

On May 2, 2011, Volcom and PPR announced a definitive merger agreement, whereby PPR would acquire Volcom in a cash tender offer and subsequent merger for a total enterprise value of approximately $516.1 million. Following the transaction, Volcom will be a wholly owned subsidiary of PPR.

The transaction is expected to close during the third quarter of 2011 and is subject to various conditions, including the tender of at least a majority of the outstanding shares, calculated on a fully-diluted basis, of Volcom's common stock in the tender offer and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other applicable regulatory approvals.

Following completion of the tender offer, PPR will acquire all remaining shares of Volcom's common stock through a second step merger at the same price per share paid in the tender offer (without interest and subject to applicable withholding taxes).

Volcom Inc

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X