Perry Ellis receives takeover proposal from Randa

Perry Ellis International’s board of directors has confirmed receipt of a non-binding, unsolicited proposal from privately-held Randa Accessories Leather Goods LLC to acquire 100 percent of the fully diluted common stock of Perry Ellis for 28 dollars per share in cash.

Recently, on June 16, Perry Ellis unanimously approved a 437 million dollars transaction to become a private company through an acquisition led by founder and former executive chairman George Feldenkreis. Under the terms of the Feldenkreis merger agreement, Perry Ellis shareholders will receive 27.50 dollars per share in cash at closing.

Randa’s offer values the company at 444 million dollars, while Feldenkreis’ offer valued it at 437 million dollars. Randa, is a licensee for brands as Levi’s, Tommy Hilfiger and Timberland and handles Perry Ellis accessories in the United Kingdom.

Picture:Facebook/Perry Ellis