NEW YORK — Miami-based Perry Ellis International acquired Salant Corp., the largest licensee of PEI branded apparel, in a $91 million deal Tuesday.
Salant chief executive officer Michael Setola was offered to stay on, but has elected to leave, said PEI ceo George Feldenkreis. The total merger consideration of $91 million is comprised of about $52 million in cash and about $39 million worth of newly issued PEI common stock.
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