According to Reuters, Perry Ellis International (PERY) approached by Former chairman, George Feldenkreis

  • February 7, 2018

POTENTIAL DEAL DETAILS

StockPerry Ellis International, Inc.SymbolPERY
Date Announced02/07/2018Source Reuters
TypeUnsolicited BidAcquiring Company/Person George Feldenkreis, Perry Ellis’ founder
Date of Confirmation: 06/16/2018Price at Confirmation: $27.97
Potential Profit: 5.87%Annualized Profit: 16.60%

Perry Ellis International Inc’s (PERY) former chairman, George Feldenkreis, on Wednesday offered to buy the clothing company for $430 million with a plan to take the company private.

Update(s):

February 26, 2018: Perry Ellis International (PERY) today announced its Board of Directors has authorized a special committee of independent directors to evaluate the February 6, 2018, proposal from George Feldenkreis to acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by Mr. Feldenkreis.

March 15, 2018: Perry Ellis International (PERY)  Extends Deadline for Nomination of Directors for the 2018 Annual Meeting of Shareholders. Special Committee Continues to Evaluate George Feldenkreis Proposal.

April 10, 2018: The Special Committee of the Board is committed to enhancing value for all Perry Ellis  (PERY) shareholders and, with the assistance of independent financial and legal advisors, is continuing to evaluate the previously announced February 6, 2018 proposal, as reaffirmed on April 9, 2018, from George Feldenkreis to acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by Mr. Feldenkreis

June 16, 2018: Perry Ellis International  (PERY) today announced it has entered into a definitive merger agreement under which a newly formed entity controlled by George Feldenkreis, Perry Ellis’ founder and member of the Company’s Board of Directors, will acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by the Feldenkreis family for $27.50 per share in cash.

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