- UNITED RETAIL WAITS NO MORE: United Retail Group Inc. and Redcats USA Inc., a subsidiary of Redcats Group, a part of PPR, said Monday that the U.S. federal antitrust agencies granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in connection with Redcats USA's pending acquisition of United Retail. The purchase is via a tender offer that began on Sept. 25, and is scheduled to expire at midnight EST, at the end of Oct. 23, unless extended. PPR's Redcats plans to acquire the plus-size retailer for $198.9 million, or $13.70 a share, in cash, a 23 percent premium on trading in the 90-day period ended Sept. 7. The deal should close by yearend.

- OLDIES BUT GOODIES: Although the latest handbags from Prada, Gucci and Bottega Veneta are coveted, their vintage counterparts are rare. Bagborroworsteal.com, the Seattle-based Web site that rents out handbags and jewelry to consumers, is starting Vintage Collection, which will offer vintage designer handbags from the likes of Hermès, Moschino and Chanel. Claire Watson, a former couture consultant at auction house Doyle New York, was tapped to curate and assemble the collection, which comprises 70 bags and will be available next month. By yearend, the collection will increase to 100 bags.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus