Everlast announces agreement to be acquired by Hidary Group
04 Jun '07
2 min read
A special meeting of stockholders of Everlast Worldwide will be announced soon to obtain stockholder approval of the transaction.
The Hidary Group is the lead sponsor of the deal. Other investors include multi-billion dollar investment funds Gracie Capital, Ore Hill Partners, and Seneca Capital. Each fund manages in excess of $1 billion.
Piper Jaffray & Co is serving as financial advisor to Everlast Worldwide. Clarence Schwab, Managing Partner of C. Schwab LLC, is serving as financial advisor to the Hidary Group. Mr. Schwab also works closely with certain Hidary Group portfolio companies.
Olshan Grundman Frome Rosenzweig & Wolosky LLP and Proskauer Rose LLP acted as legal advisors to Everlast Worldwide and Hidary Group, respectively.
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