By  on September 6, 2018

The battle for Perry Ellis International might be heating up again.

On Thursday, Water Island Capital disclosed a 5.5 percent ownership stake in the company and in a Securities and Exchange Commission filing said it “does not believe that the merger consideration” by Feldenkreis Holdings LLC “represents fair value to the Issuer’s shareholders.” It went on to say that it is “considering various options and remedies to maximize the value of its shares in connection with the merger.”

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