Perry Ellis announces completion of its acquisition in $437M transaction
Perry Ellis International announced the successful completion of its acquisition by an entity controlled by George Feldenkreis in which Perry Ellis has become a private company through a $437M transaction. Under the terms of the Feldenkreis merger agreement, Perry Ellis' unaffiliated shareholders will receive $27.50 per share in cash. Shares of Perry Ellis ceased trading on the Nasdaq Global Select Market prior to the open of trading on October 22, 2018 and will no longer be listed on an exchange or quotation system."Today, Perry Ellis enters an exciting new chapter as a private enterprise," said George Feldenkreis. "I want to thank all of our associates at Perry Ellis for their support and hard work to accomplish this transaction. We are also very grateful to our bankers and advisors that have helped the Feldenkreis family to complete this herculean job." "We are thrilled to provide a financing solution that has enabled the founding family of Perry Ellis to set this storied company on a new and exciting path for future success," said Josh Pack, managing partner of Fortress Investment Group.