Source Pravda.Ru

Tommy Hilfiger sells for $1.6 billion - Comments

Clothing company Tommy Hilfiger Corp. said Friday it agreed to be purchased by Apax Partners, a private investment company, for $1.6 billion (Ђ1.4 billion), or $16.80 a share, in cash. Hilfiger said it expects the deal to close by Spring 2006 and is subject to shareholder approval. The offer is a 5 percent premium to Hilfiger's Thursday closing stock price of $16 on the New York Stock Exchange. Hilfiger shares rose 35 cents, or about 2 percent, to $16.35 in pre-market trading after the news

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