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Business of Fashion
24-04-2025
- Business
- Business of Fashion
Authentic Brands Group Weighs Rival Bid for Guess?
Authentic Brands Group Inc. is considering launching a rival takeover bid for American clothing company Guess? Inc., people familiar with the matter said. New York-based Authentic Brands is working on a potential offer that would counter the $13-a-share cash proposal that Guess received in March from WHP Global, according to the people. Shares of Guess surged as much as 26 percent on Thursday. The stock was up 17 percent at $11.635 at 3:27 p.m. in New York, giving the company a market value of about $603 million. Deliberations are ongoing and no final decisions have been made, the people said, asking not to be identified discussing confidential information. A representative for Authentic Brands declined to comment. A spokesperson for Guess couldn't immediately be reached for comment. Guess said in a statement last month that it had formed a special committee of independent and disinterested directors to evaluate WHP Global's offer, which would see some existing shareholders, including founders Paul Marciano and Maurice Marciano, roll over their stakes. Solomon Partners and Willkie Farr & Gallagher are advising the special committee. Founded in 1981 by the Mariano brothers, Guess' products include denim, handbags and shoes. In February, the company teamed up with WHP Global to acquire the fashion brand rag & bone. Authentic Brands is led by Chief Executive Officer Jamie Salter. Its stable of brands and intellectual properties includes Champion, Reebok and Forever 21. Bloomberg News reported earlier this year that an investor group including CVC Capital Partners, General Atlantic, HPS Investment Partners and Leonard Green & Partners is in talks to buy BlackRock Inc.'s stake in Authentic Brands. By Vinicy Chan, Crystal Tse and Eliza Ronalds-Hannon Learn more: Apparel Retailer Guess Gets Take-Private Offer From WHP Global Guess, whose shares jumped over 30 percent in early trading on Monday, has formed a special committee to evaluate the proposal, though the deal isn't guaranteed.
Fashion Network
24-04-2025
- Business
- Fashion Network
Authentic Brands Group weighs rival bid for Guess
Authentic Brands Group Inc. is considering launching a rival takeover bid for American clothing company Guess Inc., people familiar with the matter said. New York-based Authentic Brands is working on a potential offer that would counter the $13-a-share cash proposal that Guess received in March from WHP Global, according to the people. Shares of Guess were trading at $10.50 at 2:35 p.m. in New York on Thursday, giving the company a market value of about $544 million. The stock surged following the WHP bid. Deliberations are ongoing and no final decisions have been made, the people said, asking not to be identified discussing confidential information. A representative for Authentic Brands declined to comment. A spokesperson for Guess couldn't immediately be reached for comment. Guess said in a statement last month that it had formed a special committee of independent and disinterested directors to evaluate WHP Global's offer, which would see some existing shareholders, including founders Paul Marciano and Maurice Marciano, roll over their stakes. Solomon Partners and Willkie Farr & Gallagher are advising the special committee. Founded in 1981 by the Mariano brothers, Guess' products include denim, handbags and shoes. In February, the company teamed up with WHP Global to acquire the fashion brand rag & bone. Authentic Brands is led by Chief Executive Officer Jamie Salter. Its stable of brands and intellectual properties includes Champion, Reebok and Forever 21. Bloomberg News reported earlier this year that an investor group including CVC Capital Partners, General Atlantic, HPS Investment Partners and Leonard Green & Partners is in talks to buy BlackRock Inc.'s stake in Authentic Brands.
Fashion Network
24-04-2025
- Business
- Fashion Network
Authentic Brands Group weighs rival bid for Guess
Group Inc. is considering launching a rival takeover bid for American clothing company Guess Inc., people familiar with the matter said. New York-based Authentic Brands is working on a potential offer that would counter the $13-a-share cash proposal that Guess received in March from WHP Global, according to the people. Shares of Guess were trading at $10.50 at 2:35 p.m. in New York on Thursday, giving the company a market value of about $544 million. The stock surged following the WHP bid. Deliberations are ongoing and no final decisions have been made, the people said, asking not to be identified discussing confidential information. A representative for Authentic Brands declined to comment. A spokesperson for Guess couldn't immediately be reached for comment. Guess said in a statement last month that it had formed a special committee of independent and disinterested directors to evaluate WHP Global's offer, which would see some existing shareholders, including founders Paul Marciano and Maurice Marciano, roll over their stakes. Solomon Partners and Willkie Farr & Gallagher are advising the special committee. Founded in 1981 by the Mariano brothers, Guess' products include denim, handbags and shoes. In February, the company teamed up with WHP Global to acquire the fashion brand rag & bone. Authentic Brands is led by Chief Executive Officer Jamie Salter. Its stable of brands and intellectual properties includes Champion, Reebok and Forever 21. Bloomberg News reported earlier this year that an investor group including CVC Capital Partners, General Atlantic, HPS Investment Partners and Leonard Green & Partners is in talks to buy BlackRock Inc.'s stake in Authentic Brands.
Los Angeles Times
21-03-2025
- Business
- Los Angeles Times
Los Angeles Apparel Retailer Guess Inc. Receives Offer to Go Private
Guess Inc., the Los Angeles-based apparel brand, could go private in a deal proposed by WHP Global to acquire the company for $13.00 per share. The company formed a special committee of independent and disinterested directors of its board to evaluate the proposal. The proposal could lead to a definitive offer that would be financed through a combination of equity and third-party debt financing, and the ownership interest of certain shareholders – including Paul Marciano, Maurice Marciano and Carlos Alberini – would roll over into the private company. The deal expands on a partnership formed in April 2024, when the two companies partnered to acquire the intellectual property and operating assets of New York-based fashion brand rag & bone. As of November 2024, Guess directly operated 1,057 retail stores in Europe, the Americas and Asia while the company's partners and distributors operated 541 additional retail stores. Information for this article was sourced from Guess Inc.
Associated Press
20-03-2025
- Business
- Associated Press
Shareholder Alert: The Ademi Firm Investigates the Proposed Acquisition of Guess?, Inc. by WHP Global
The Ademi Firm is investigating the proposed acquisition of Guess? (NYSE: GES) by WHP Global to determine if the interests of public shareholders are being protected. Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995. There is no cost or obligation to you. In the proposed transaction, Guess? shareholders would receive only $13.00 per share in cash, other than shares held by certain existing shareholders, including Paul Marciano, Maurice Marciano and Carlos Alberini, whose shares will be rolled over and reinvested. Guess? has formed a Special Committee of independent and disinterested directors to evaluate WHP Global's proposal. We will be investigating the conduct of the Guess? board of directors with respect to the WHP Global proposed acquisition, and whether the Guess? Board will be fulfilling their fiduciary duties to all shareholders. We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes. Guri Ademi Toll Free: (866) 264-3995 SOURCE: Ademi & Fruchter LLP Copyright Business Wire 2025. PUB: 03/20/2025 07:33 AM/DISC: 03/20/2025 07:32 AM
