Business: George Feldenkreis Reaffirms Offer To Acquire Perry Ellis Shares

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Perry Ellis Men’s Fall 2018

UNITED STATES, NEW YORK— Last month, DM Fashion Book reported that Perry Ellis International Inc‘s former chairman & CEO George Feldenkreis, who is also the company’s largest shareholder, offered $27.50 per Perry Ellis share. He offered to buy the clothing company for $430 million with a plan to take the company private (see it here).

According to WWD, Feldenkreis in a letter dated March 9 reaffirmed his offer to acquire all shares of the company he doesn’t already own in a ‘going privatetransaction.

As we previously reported, the deal would be financed with a combination of debt and equity, according to a regulatory filing. The financing is backed by a $300 million commitment from Fortress Investment.

The letter was disclosed in a filing with the Securities and Exchange Commission on Monday, a Schedule 13D/A.”

Feldenkreis also is seeking a 30-day extension of the deadline to submit shareholder nominations of directors at the company’s 2018 annual shareholders’ meeting later this year. He also indicated that he would still nominate a slate of directors for election to the board in the event his request is denied.”

Feldenkreis led the company for more than 50 years and served as chairman and chief executive officer since 1993. The family’s ownership stake in the company is valued at more than $100 million. His son, Oscar, is currently ceo at Perry Ellis“.

The Perry Ellis board on Feb. 26 authorized a special committee to evaluate the proposal. At the time, the company said there was no “assurance” that the proposal would result in a binding offer or that one would even be executed.”

Perry Ellis Men’s Fall 2018

Photos Credit: WWD

Source: WWD

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.