SECOND TIME AROUND: Dickson Poon has put the finishing touches on his second, alternative bid for Harvey Nichols and sent it to shareholders for a vote, a spokesman for the store said Thursday. As reported Tuesday, his first bid of $3.85 a share for...
SECOND TIME AROUND: Dickson Poon has put the finishing touches on his second, alternative bid for Harvey Nichols and sent it to shareholders for a vote, a spokesman for the store said Thursday. As reported Tuesday, his first bid of $3.85 a share for 100 percent of the firm failed at a shareholders meeting, due chiefly to the resistance of Deutsche Bank, the store’s largest institutional shareholder. Under the new bid, Poon is still offering $3.85 a share, but this time he only needs approval from shareholders representing 50 percent — rather than 75 percent — of the stock held by the public. Shareholders have to respond by mail by 3 p.m. Dec. 4. Poon currently owns 50.1 percent of Harvey Nichols and wants to buy as much of the remaining 49.9 percent as he can so he can delist the company. Deutsche Bank wants to hold on to its shares and ensure the company remains listed on the stock exchange.
VOYAGE OF VALUE: The Boston satellite office of Value City Department Stores Inc.’s merchandising group is being closed. James McGrady, VC’s chief financial officer, said the Boston office’s functions will be relocated to New York, where the firm is "pretty close" to choosing a site. The move doesn’t affect VC’s existing Boston-based Filene’s Basement merchandising team, but will affect about 20 employees. VC’s merchandising group has offices in Columbus, Ohio, where the discounter has its headquarters, and Los Angeles.
FREE TRADE DOWN UNDER: U.S. Trade Representative Robert Zoellick has notified Congressional leaders that he plans to begin negotiations on a free-trade agreement with Australia in 90 days. Zoellick, who was in Canberra, Australia, this week, said in a letter to lawmakers that agriculture issues will be a top priority in the context of negotiations.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive