Perry Ellis International announced its board of directors has authorized a special committee of independent directors to evaluate the February 6, 2018, proposal from George Feldenkreis to acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by Feldenkreis.
The Special Committee is composed of Joe Arriola, Jane DeFlorio, Bruce J. Klatsky, Michael W. Rayden and J. David Scheiner. Scheiner will serve as chair of the Special Committee. The Special Committee has retained Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akerman LLP as its legal counsel and PJ Solomon as its financial advisor to assist in its review.
The Special Committee is evaluating the Proposal and no decision has been made with respect to the company’s response to the Proposal. There is no assurance the Proposal will result in a definitive offer to purchase the company’s outstanding capital stock, or that any definitive agreement will be executed, or that the Proposal or any other transaction will be approved or consummated. The company will not move forward with any transaction unless it is approved by the Special Committee.
The company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required by applicable law.
The company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis, An Original Penguin by Munsingwear, Laundry by Shelli Segal, Rafaella, Cubavera, Ben Hogan, Savane, Grand Slam, John Henry, Manhattan, Axist, Jantzen and Farah. The company enhances its roster of brands by licensing trademarks from third parties, including: Nike and Jag for swimwear, and Callaway, PGA TOUR, Jack Nicklaus for golf apparel and Guy Harvey for performance fishing and resort wear.