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Perry Ellis gets unsolicited proposal from Randa
06
Jul '18
Courtesy: Randa
Courtesy: Randa
The Special Committee of the Perry Ellis International Board of Directors, which is composed of the independent directors, has disclosed that it has received a non-binding, unsolicited proposal from privately-held Randa Accessories Leather Goods to acquire 100 per cent of the fully diluted common stock of Perry Ellis for $28.00 per share in cash.

Perry Ellis’ Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors and with the support of independent financial and legal advisors, unanimously approved a $437 million transaction to become a private company through an acquisition led by George Feldenkreis. Under the terms of the Feldenkreis merger agreement, Perry Ellis shareholders will receive $27.50 per share in cash at closing.

The Special Committee of the Perry Ellis Board, in consultation with its independent financial and legal advisors, will carefully review and evaluate Randa’s proposal to determine the course of action that the Special Committee of the Perry Ellis Board believes is in the best interest of the company and all Perry Ellis shareholders.

Perry Ellis remains subject to the Feldenkreis merger agreement. Perry Ellis International is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances. (SV)

Fibre2Fashion News Desk – India


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