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03-15-2010, 04:37 PM #1
Van Heusen to buy Hilfiger for about $3 billion
Van Heusen to buy Hilfiger for about $3 billion
Deal would create one of the world's largest clothing companies
updated 4:49 a.m. PT, Mon., March. 15, 2010
NEW YORK - Phillips-Van Heusen says it will buy privately held Tommy Hilfiger in a cash-and-stock deal valued at about $3 billion, creating one of the world's biggest clothing companies.
The deal announced Monday includes approximately 1.9 billion euros in cash ($2.6 billion) and 276 million euros ($379.9 million) in Phillips-Van Heusen stock.
The New York clothing retailer will also assume 100 million euros ($137.6 million) in liabilities.
The combined company's revenue will total about $4.6 billion.
Tommy Hilfiger was acquired in May 2006 for about 1.2 billion euros by a group led by the buyout firm Apax Partners.
The sale to Phillips-Van Heusen is expected to close in Phillips-Van Heusen's second quarter.
http://www.msnbc.msn.com/id/35870295/ns ... _business/NO AMNESTY
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03-15-2010, 10:58 PM #2
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