Investment Firm Offers to Purchase 2.5M A&F Shares
NEW YORK — Abercrombie & Fitch Co. said it neither recommends nor endorses an unsolicited minitender offer from a private Canadian investment firm to buy up to 2.5 million shares of its class A common stock. The firm, TRC Capital Corp.,...
NEW YORK — Abercrombie & Fitch Co. said it neither recommends nor endorses an unsolicited minitender offer from a private Canadian investment firm to buy up to 2.5 million shares of its class A common stock. The firm, TRC Capital Corp., provided Abercrombie with offer to purchase documents dated Sept. 8 in which it said it will buy the shares at $30 each in cash, the retailer said in a statement Friday.
The offer, however, represents a 5.4 percent discount to Abercrombie’s closing stock price of $31.71 on Sept. 7. Abercrombie said it is not affiliated with TRC, and emphasized that stockholders who have already tendered shares can withdraw them before the offer’s expiration on Oct. 7, according to TRC’s documents. Abercrombie, which urged investors to check current market quotes, told investors to “exercise caution” with respect to TRC’s offer. Shares of Abercrombie closed at $33.37, down 3 cents, in trading Friday on the New York Stock Exchange. The stock has traded as high as $39.46, and as low as $23.07 over the past 52 weeks.
The minitender offer is for approximately 2.6 percent of A&F’s 94.6 million shares outstanding.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)