Polo Ralph Lauren Corp. said it wrapped up its tender offer for the outstanding shares of Impact 21 Co. that it did not already own.
The company said the tender offer was for about 80 percent of the outstanding shares of the Japanese men's wear, women's wear and jeans apparel and accessories licensee. Polo Ralph Lauren now owns over 97 percent of Impact 21, and said it would buy the remaining shares that were not sold under the tender offer.
"This transaction is an important step for the future growth of Polo Ralph Lauren as it will enable the company to better align its business in the important Japanese market with its overall global strategy," the company said in a statement.
Morgan Stanley Japan Securities Co. Ltd. was the financial advisor to Polo Ralph Lauren, while Daiwa Securities SMBC Co. Ltd. advised Impact 21.
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