Phillips-Van Heusen Corporation to Acquire Tommy Hilfiger B.V.
Monday, March 15th, 2010Phillips-Van Heusen Corporation (NYSE: PVH) today announced a definitive agreement for PVH to acquire Tommy Hilfiger B.V., which is controlled by funds affiliated with Apax Partners L.P., for total consideration of 2.2 billion (approximately $3.0 billion) plus the assumption of 100 million in liabilities. The consideration includes 1.924 billion in cash and 276 million in PVH common stock. The combination will create one of the world’s largest and most profitable apparel companies; a global business with combined revenue of approximately $4.6 billion.
“This is a unique opportunity to bring together two premier companies, each with iconic brands, which will deliver enhanced opportunities for our stockholders, business partners, customers and employees as we leverage a combined global platform in the years ahead”
Original post by no@spam.com (Maxamillion Blick)