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Perry Ellis Shareholders Approve Proposed Transaction With George Feldenkreis

Source:China Sport ShowRelease time:19-Oct-2018Clicks:

Perry Ellis International Inc. announced that based on the vote tally from the Special Meeting held Thursday, Perry Ellis shareholders have approved the proposed transaction with George Feldenkreis in which Perry Ellis will become a private company through a $437 million transaction.

Under the terms of the Feldenkreis merger agreement, Perry Ellis’ unaffiliated shareholders will receive $27.50-per-share in cash upon closing. The purchase price represents a premium of approximately 21.6 percent to Perry Ellis’ unaffected closing stock price on February 5, 2018, the last trading day prior to George Feldenkreis announcing his proposal to take the company private.

The company expects to announce consummation of the merger within the coming days.

The final vote count regarding the Special Meeting will be certified by the independent Inspector of Elections, First Coast Results, Inc. and filed with the Securities and Exchange Commission on a Form 8-K as soon as practicable.

PJ Solomon is serving as financial advisor to the Special Committee, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akerman LLP are serving as the Special Committee’s legal counsel.

Perry Ellis International’s brands include: Perry Ellis, An Original Penguin by Munsingwear, Laundry by Shelli Segal, Rafaella, Cubavera, Ben Hogan, Savane, Grand Slam, John Henry, Manhattan, Axist, Jantzen and Farah. The company enhances its roster of brands by licensing trademarks from third parties, including: Nike for swimwear, Callaway, PGA TOUR, Jack Nicklaus for golf apparel and Guy Harvey for performance fishing and resort wear.

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