Haggar issues acquisition agreement with Infinity Associates & Symphony Holdings
01 Sep '05
3 min read
The Board of Directors of Haggar has unanimously approved the merger agreement and has recommended to Haggar's stockholders that they adopt the agreement. Completion of the transaction is contingent on, among other things, regulatory review, approval by the stockholders of Haggar, and funding of debt to complete the acquisition. The transaction is expected to close by the end of 2005.
Messrs. Haggar and Bracken, John C Tolleson, a director of Haggar, and an affiliate of Thomas G. Kahn, a director of Haggar, have entered into separate agreements to vote shares in favor of the transaction.
Bear, Stearns & Co Inc acted as financial advisor to Haggar and provided a fairness opinion to the Board of Directors of Haggar in connection with the transaction. Vinson & Elkins L.L.P. acted as legal advisor to Haggar in connection with the transaction. Merrill Lynch & Co. acted as financial advisor to the investor group in connection with the transaction and Wilson Sonsini Goodrich & Rosati P.C. acted as legal advisor to the investor group.
Texas based Haggar Clothing Co, a wholly-owned subsidiary of Haggar Corp is a leading marketer of men's casual and dress apparel and women's sportswear. The company serves their products in the United States, Canada, Mexico, and the United Kingdom. It also holds exclusive licenses in the United States to use the Claiborne trademark, Kenneth Cole New York, and KennethCole Reaction trademarks to manufacture, market, and sell men's shorts and pants in men's classification pant departments.
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