The battle for control of Perry Ellis continues to unfold with the filing of a proxy statement that reveals the offer of founder George Feldenkreis won’t go higher than $27.50 because its bid is already at a debt-to-EBITDA ratio of 7X. Indeed, PJ Solomon, the board financial advisor, indicated to the board that there would not be any availability in the transaction to increase the offer. Randa said its own bid would be a more manageable 5X EBITDA and include merging the company into an existing concern that has assets and cash to fund “much needed brand marketing and infrastructure ... Log in to view full article.