Guess? Inc. will be taken private by Authentic Brands Group LLC in partnership with co-founders Maurice and Paul Marciano and chief executive officer Carlos Alberini.
Shareholders will get $16.75 a share in cash, a 26 percent premium to the stock’s closing price on Tuesday. The deal values Guess at about $1.4 billion, including debt, the company said in a statement. The shares jumped premarket to trade at the offer price.
Founded in 1981 by the Marciano brothers, Guess’s products include denim, handbags and shoes. In February 2024, the company teamed up with WHP Global to acquire the fashion brand rag & bone. This past April, Guess said it was reviewing a proposal from WHP to acquire the retailer for $13 a share.
By Catherine Larkin
Learn more:
Authentic Brands Group Weighs Rival Bid for Guess?
The New York-based brand management company is considering launching a rival takeover bid for American clothing company Guess? Inc.
Content shared from www.businessoffashion.com.
