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Perry Ellis to Be Acquired by George Feldenkreis

Perry Ellis International has agreed to be acquired by George Feldenkreis, Perry Ellis’ founder and a member of the company’s board of directors, in a transaction valued at $437 million. Paul, Weiss represents Perry Ellis’ special committee of independent directors, which evaluated the buyout proposal and negotiated with Feldenkreis.

Under the terms of the all-cash deal, a Feldenkreis will acquire the remaining stake of Perry Ellis not already owned by the Feldenkreis family for $27.50 per share. Additionally, both parties have agreed to defer the next annual meeting for the election of directors while the merger agreement is pending. The transaction is expected to close in the second half of 2018, pending shareholder and regulatory approvals.

The Paul, Weiss team included corporate partner Robert Schumer, Kelley Parker, Eric Goodison, Raphael Russo and Manuel Frey and counsel David Harris, Nathan Sawyer and Frances Mi; employee benefits partner Andrew Gaines and counsel Jarrett Hoffman; litigation partners Andrew Gordon and Stephen Lamb; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; tax partner David Mayo; personal representation partners Loretta Ippolito and Alan Halperin and counsel Jessica Soojian; antitrust counsel Marta Kelly; and environmental counsel William O’Brien.

June 16, 2018

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