World Places and News

Perry Ellis Sticks With Feldenkreis Deal for $437M

Perry Ellis Sticks With Feldenkreis Deal for $437M

Perry Ellis Sticks With Feldenkreis Deal for $437M
July 05
13:18 2018
Booking.com



The special committee of the Perry Ellis International Inc. board on Thursday reaffirmed its intent to recommend that shareholders vote in favor of the $437 million offer from George Feldenkreis to take the company private, rejecting a $444 million offer for the company made by Randa Accessories Leather Goods LLC.
The reaffirmation confirms a WWD story Tuesday night that the company was electing to stick with its earlier commitment. That article also noted that Randa’s public disclosure of its new offer on Tuesday was the proverbial “second bite at the apple” for the company, since a story last month said that there had been a men’s accessories firm in discussions with the special committee while it was evaluating the Feldenkreis deal. Randa executives declined to comment on Thursday, but the special committee confirmed that the accessories firm was indeed Randa.
Perry Ellis last month, on the special committee’s recommendation, inked an agreement with founder George Feldenkreis. On Monday, Randa  submitted a non-binding competing offer of $28 a share that was 50 cents higher than the $27.50 offered by Feldenkreis. The inked purchase price at $27.50 a share in cash represents a premium of 21.6 percent to the shares’ closing price on Feb. 5,

Follow WWD on Twitter or become a fan on Facebook.

Read More…



Source link

Share

About Author

harib

harib

Related Articles

Booking.com

—— — BEST OFFERS NOW! ——–

The Red Tea Detox

The Red Tea Detox

Site Statistics

  • Users online: 0 
  • Visitors today : 13
  • Page views today : 18
  • Total visitors : 276,864
  • Total page view: 1,182,840