Tarrant retains Bingham McCutchen as its legal advisor
16 Jun '08
1 min read
Tarrant Apparel Group announced that its Special Committee of Independent Directors has retained the law firm of Bingham McCutchen LLP as its legal advisor and Houlihan Lokey Howard & Zukin as its financial advisor to assist the Special Committee in evaluating the previously announced proposal submitted by the Company's founders and executive officers, Gerard Guez and Todd Kay, to acquire the outstanding publicly held shares of Tarrant for $0.80 per share in cash.
Messrs. Guez and Kay together beneficially own approximately 51% of the Company's common stock, which includes 5,000,000 shares that may be acquired upon the exercise of stock options at a weighted average exercise price of $4.90 per share.
The Company does not currently expect to provide further updates until the Special Committee has completed its work or as otherwise is required by applicable law.
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