Phillips-Van Heusen buying Tommy Hilfiger for $3B
Published: March 15,2010
NEW YORK — Phillips-Van Heusen says it will buy privately held Tommy Hilfiger in a cash-and-stock deal valued at about $3 billion, creating one of the world’s biggest clothing companies.
The deal announced today includes approximately 1.9 billion euros in cash ($2.6 billion) and 276 million euros ($379.9 million) in Phillips-Van Heusen stock.
The New York clothing retailer will also assume 100 million euros ($137.6 million) in liabilities.
The combined company’s revenue will total about $4.6 billion.
Tommy Hilfiger was acquired in May 2006 for about 1.2 billion euros by a group led by the buyout firm Apax Partners.
The sale to Phillips-Van Heusen is expected to close in Phillips-Van Heusen’s second quarter.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Judge gets more time to fight efforts to remove him from office
- Voters to decide whether hunting, fishing is constitutional right
- State renews battle over water use with city of Memphis
- Coast cleanup nets 1,600 bags of trash — and a watermelon patch
- State's bad bridges continue to raise concerns among officials