By  on June 18, 2018

With financing in place, George Feldenkreis was able to demonstrate both the seriousness of his intent to take Perry Ellis International Inc. private and the ability to execute on his buyout plan from the get-go.

Nearly five months after Feldenkreis offered to buy back the shares of Perry Ellis that he didn’t already own, the firm on Saturday said it has entered into a $437 million transaction with the company’s founder and former chairman to go private. The deal will give Perry Ellis shareholders $27.50 a share in cash, representing a premium of over 21 percent on the value of the share price on Feb. 5 when Feldenkreis first made his offer. Shares of Perry Ellis closed on Friday at $27.97 in Nasdaq trading, advancing over the last few months on expectations of a possibly higher offer.

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