PUSHING AHEAD: Former Perry Ellis International Inc. chairman George Feldenkreis in a letter dated March 9 reaffirmed his offer to acquire all shares of the company he doesn’t already own in a “going private” transaction. As reported, Feldenkreis is working with Fortress Credit Advisors on an offered valued at $430 million, or $27.50 a share.
The letter was disclosed in a filing with the Securities and Exchange Commission on Monday, a Schedule 13D/A.
Feldenkreis also is seeking a 30-day extension of the deadline to submit shareholder nominations of directors at the company’s 2018 annual shareholders’ meeting later this year. He also indicated that he would still nominate a slate of directors for election to the board in the event his request is denied.
Feldenkreis’ non-binding offer of Feb. 6 came six months after he was pushed out as executive chairman. He led the company for more than 50 years and served as chairman and chief executive officer since 1993. The family’s ownership stake in the company is valued at more than $100 million. His son, Oscar, is currently ceo at Perry Ellis.
The Perry Ellis board on Feb. 26 authorized a special committee to evaluate the proposal. At the time, the company said there was no “assurance” that the proposal would result in a binding offer or that one would even be executed.