Lancer Capital-backed Iconix Acquisition Corp. will offer $3.15 per share in cash, a 29% premium over the most recent closing price, to take ICON private. The price values it at $585 million, including net-debt. Iconix’ board has approved the deal, which is expected to close by the end of Q3. Most of ICON’s brands are in the fashion and homegoods space, but it still owns several active brands including Danskin, Ocean Pacific (now Op), Pony, and Starter.
The debt-laden licensing company has been seeking ... Log in to view full article.