PPR S.A., the parent of Puma, and Volcom, Inc. jointly announced that they have received all necessary antitrust approvals applicable to PPR’s tender offer for all of the outstanding shares of common stock of Volcom at a price of $24.50 per share in cash.
The transaction is subject to the satisfaction of the remaining customary closing conditions. As previously announced, PPRâ€s tender offer for Volcom is currently scheduled to expire at 5:30 p.m., New York City time, on Thursday, June 16, 2011, unless further extended.
PPR’s brands Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen and Stella McCartney in its Luxury Group, Puma, Fnac and Redcats (La Redoute, The Sportsmanâ€s Guide, The Golf Warehouse).
