Perry Ellis to Go Private in $437 Million Transaction
The all-cash deal will offer all the public shareholders $27.50 per share, a premium of 22% over the stock price before the announcement of the tender offer by the Feldenkreis family.
The combination creates a sneaker chain that has sales of over $5 billion globally and a clear rival to Foot Locker, whose global sales last year were $7.8 billion.
An independent research firm, GMT Research in Hong Kong, issued a report that said that Anta’s profitability was so good that it must be using accounting gimmicks to prop up its numbers.
The bankruptcy court approved Sheikh Shoes’ motion to confirm its plan to exit Ch. 11 reorganization and discharged the case effective today.
Returning to the Japanese-owned company as president and CEO, he’ll be tasked with managing the core golf ball business in competition with Titleist and surging Callaway, while also growing club share.
The former NBA star, who lent his nickname to the iconic Puma Clyde sneaker that he wore in the ‘70s playing for the New York Knicks, will get a lifetime deal from the Big Cat, which also released 73 pairs of special edition Clydes at its Hoops HQ store in Brooklyn.
The North Face, Timberland, Vans and Reef are suing 831 online sellers who are listing counterfeit products for sale on their websites, most of which use some variation of the trademarked brands as their URLs.
The Eager Beavertons’ upcoming collection with streetwear retailer and brand Undefeated was derailed when the US Naval Academy noticed that a crest on the apparel closely resembled its own logo.