Oct. 2, 2013, 6:42 PM
- PVH is unloading footwear brand G.H. Bass & Co., owned by the company since 1987, to G-III Apparel (GIII) for $50M in cash. The deal is expected to close in Q4. (PR)
- PVH expects the sale to hurt its 2013 EPS by $0.05, and to be dilutive by $0.15/share on a full-year basis. Nonetheless, the company is reaffirming its guidance for 2013 EPS of $7. It's also raising its Q3 EPS guidance to $2.25, above prior guidance of $2.20 and a $2.22 consensus.
Oct. 31, 2012, 5:13 AMPhillips-Van Heusen (PVH) agrees to acquire Warnaco (WRC) for about $2.9B in cash and stock in a deal that "reunites the House of Calvin Klein." Based on PVH's last closing stock price, the deal is worth $68.43 a share, representing a 34% premium over Warnaco's close on Friday. PVH has also received commitments for $4.33B in financing from Barclays (BCS), BofA (BAC) and Citigroup (C), some of which PVH will use for the merger. (PR) | Comment!
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