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
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Venture Tech merges with ISC, acquires SAT
- PSC's Brandon Presley calls in-state nuclear waste dump a 'harebrained scheme'
- Georgia-Pacific completes acquisition of SPG Holdings
- Corps official: River needs larger ports, locks and dams
- Community Bank names new officers
- Officials set hunting dates for birds; expands dove season by 20 days
- Retired judge to hear McDaniel's challenge of primary loss to Cochran
- C Spire, UM installing Wi-Fi network at Vaught-Hemingway Stadium
- Southern Bancorp to acquire Bank of Bolivar County