Everlast announces definitive agreement to acquire Brands Holdings
29 Jun '07
3 min read
In accordance with the terms of the original merger agreement, Everlast Worldwide paid a termination fee of $3,000,000 to the original purchaser under such agreement.
In addition, The Estate of George Q Horowitz has entered into a voting agreement with Brands Holdings Limited pursuant to which The Estate has agreed to vote its shares in favor of the merger agreement with Brands Holdings Limited, subject to certain conditions.
The voting agreement that The Estate of George Q Horowitz previously entered into with Hidary Group Acquisitions, LLC and Hidary Group Acquisitions Inc terminated as to The Estate upon termination of the original merger agreement.
A special meeting of stockholders of Everlast Worldwide will be announced soon to obtain stockholder approval of the transaction.
Piper Jaffray & Co is serving as exclusive financial advisor to Everlast Worldwide. Olshan Grundman Frome Rosenzweig & Wolosky LLP and Freshfields Bruckhaus Deringer LLP acted as legal advisors to Everlast Worldwide and Brands Holdings Limited, respectively.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
