MIAMI--(BUSINESS WIRE)--Perry Ellis International (NASDAQ:PERY) (“Perry Ellis” or the “Company”) today confirmed that it has received an unsolicited, conditional proposal from George Feldenkreis addressed to the Board of Directors to acquire the Company for $27.50 per share in cash (the “Proposal”).
The Non-Executive Chairman of the Board of Directors intends to recommend that the Board form a special committee (the “Special Committee”) of its non-executive, independent directors to, consistent with its fiduciary duties and in consultation with its financial and legal advisors, carefully review and evaluate the Proposal and determine the course of action that it believes is in the best interest of the Company’s shareholders. Perry Ellis shareholders do not need to take any action at this time.
About Perry Ellis International
Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses and men's and women's swimwear is available through all major levels of retail distribution. 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. Additional information on the Company is available at http://www.pery.com.