Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Randa Accessories submits offer for Perry Ellis International

US menswear accessories company Randa has submitted a proposal to buy menswear group Perry Ellis International Inc.

Randa, whose current brand licences include Timberland, Tommy Hilfiger and Levi’s, today announced its non-binding proposal to acquire 100% of the outstanding common shares of Perry Ellis International.

The proposal of $28 (£21.31) per share represents 50¢ (38p) more per share than a previously announced merger agreement between Perry Ellis International and a newly formed entity controlled by its founder and director George Feldenkreis.

Randa’s chief executive Jeffrey Spiegel said: “Our proposal provides shareholders with a superior alternative to the previously agreed insider transaction.

“We are excited by the opportunity to grow our portfolio of brands though the addition of globally recognisable names, such as Perry Ellis.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.