Randa Accessories Announces Offer to Acquire Perry Ellis

July 3, 2018

Randa, the world's leading men's accessories company, announced a non-binding proposal to acquire 100 percent of the outstanding common shares of Perry Ellis International, Inc.

On July 2, Willkie client Randa Accessories, the world's leading men's accessories company, announced that it has made a non-binding proposal to acquire 100 percent of the outstanding common shares of Perry Ellis International, Inc. (NASDAQ: PERY) at a price of $28.00 per share. The proposal was made following the previously announced merger agreement between Perry Ellis and a newly formed entity controlled by its founder and director, George Feldenkreis, and represents $0.50 per share more than the consideration offered in that insider transaction.

Randa produces men's belts, small leather goods, neckwear, luggage, casual bags, jewelry and seasonal accessories including footwear, hats, gloves and gifts. Randa brings these products to market through all channels of distribution, worldwide. 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 Willkie deal team is being led by partners Steven Gartner and Adam Turteltaub.