Perry Ellis becomes private company
June 18, 2018 (New York) – International law firm Proskauer advised the group led by George Feldenkreis in its $437 million merger with Perry Ellis International (NASDAQ: PERY) under which Perry Ellis will become a private company. The newly formed entity controlled by Feldenkreis will acquire all outstanding common shares of Perry Ellis for $27.50 per share in cash. The transaction is expected to close in the second half of calendar year 2018 subject to customary conditions.
Feldenkreis founded Supreme International, a designer and importer of apparel, in 1967, and the company went public in 1993. Supreme changed its name to Perry Ellis International, Inc. upon completing the acquisition of the brand in 2000.
The Proskauer team was led by partners Daniel Ganitsky (Mergers & Acquisitions) and Christopher Bell (Finance) and included partners Michael Woronoff (Mergers & Acquisitions), Martin Hamilton (Tax) and Joshua Miller (Employee Benefits & Executive Compensation); and associates Mary Willis Bode (Finance), Nirali Parikh (M&A) and Bowon Koh (Tax).
Over the past two years, Proskauer’s Mergers & Acquisitions Group has advised on more than two hundred M&A transactions with an aggregate value of over $165 billion. This transaction follows a number of significant M&A deals on which the Firm has advised, including Celgene Corporation in its $9 billion acquisition of Juno Therapeutics; Grifols in its $1.8 billion acquisition of the blood screening business of Hologic; Ares Management in connection with Ares Capital Corporation’s $3.4 billion acquisition of American Capital; and Accor Hotels in its $3 billion acquisition of FRHI Hotels & Resorts.