71
Fashion Jobs
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
ADIDAS
ic pp Data & Analytics Specialist - em
Permanent · CAPE TOWN
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
By
Reuters
Published
Jul 2, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Randa submits rival bid for Perry Ellis

By
Reuters
Published
Jul 2, 2018

Men’s accessories maker Randa Accessories on Monday offered to buy Perry Ellis International Inc for $28 per share, 50 cents higher than a competing offer from the apparel brand firm’s founder George Feldenkreis.

Facebook: Perry Ellis


The bid, which translates to about $444 million in equity, would be Randa’s biggest-ever deal. The offer represents a 3 percent premium to Perry Ellis’ closing price on Friday.

Shares of Perry Ellis touched a more than seven-year high of $29.35, before ending up 7.9 percent at $29.33.

Perry Ellis in June agreed to be taken private for $437 million in cash by Feldenkreis. He and his son Oscar Feldenkreis, the chief executive officer, together are the company’s biggest investors.

“We are waiting for a response (from Perry Ellis),” David Katz, Randa’s chief marketing officer, told Reuters.

“We are hopeful that they will appreciate that our offer is 50 cents higher than their current offer and that we are ready able and capable of doing this deal,” Katz said.

Perry Ellis said it had received the unsolicited proposal from Randa and that its special committee comprising its board members would review and evaluate the offer.

Randa, which houses licenses for popular brands such as Levi’s, Timberland and Tommy Hilfiger, was founded more than a century ago by two brothers who sold neckties from a pushcart on the lower east-side of Manhattan.

Katz said the company had both an asset-based loan from one of the major banks and a term loan commitment to fund the all-cash deal.

Threadstone Partners LP is serving as Randa’s financial adviser and Willkie Farr & Gallagher LLP is its legal adviser.

PJ Solomon is serving as financial adviser to the Perry Ellis’ special committee and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akerman LLP are its legal advisers.

© Thomson Reuters 2024 All rights reserved.