Pacific Brands Limited has been undertaking negotiations to acquire the Australian and New Zealand Streetwear
Division of Globe International. A conditional agreement is
expected to be signed today. The company stated that media speculation over price, which has settled in at a concensus of A$42 million ($31.7 mm) but ranges as high as A$60 million ($45.2 mm), is “very inaccurate.”
Pacific Brands stated that further details will be released once the agreement has been signed.
