Perry Ellis International Inc.’s founder is about to get some competition on his proposed buyout of the apparel brand.
Men’s accessories company Randa Accessories is preparing to submit a $28-a-share bid for Perry Ellis PERY, -0.04%[1] that could upend Perry Ellis founder and former executive chairman George Feldenkreis’s $27.50-a-share deal to take the apparel company private, according to people familiar with the matter.
Feldenkreis and his son Oscar, the company’s current chief executive, are two of Perry Ellis’s biggest investors. Their deal in place for Perry Ellis values the company at about $437 million; the Randa bid would value it at about $444 million.
Perry Ellis, a popular brand of the 1990s, has since lost some of its luster in the fashion community, especially compared with some other brands popular at that time. Other hot brands of the ’90s, such as Champion and Calvin Klein, have been staging a comeback and positioning themselves as vintage in the streetwear community.
An expanded version of this report appears on WSJ.com.[2]
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References
- ^ PERY, -0.04% (www.marketwatch.com)
- ^ An expanded version of this report appears on WSJ.com. (www.wsj.com)
- ^ After a billionaire and his wife are found dead, their children try to crack the case. (www.wsj.com)
- ^ Trump asks Saudi Arabia to pump more oil, citing high prices. (www.wsj.com)