Merger looms.Merger Looms: Executives at apparel maker Mossimo Mossimo is a mid-range American apparel company, founded in 1986. Mossimo specializes in youth, teenage, and adult male clothing. It draws from street, urban and sport styles. Inc. said they will evaluate Cherokee Cherokee, Native American language Cherokee, language belonging to the Iroquoian branch of the Hokan-Siouan linguistic family. See Native American languages. Inc.'s offer to acquire it for $135 million, several million more than a previous offer from Iconix Brand Group Iconix Brand Group is a brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sears, Macy's, Mervyn's and JC Penney. . Cherokee, a Van Nuys licensing and brand management company, offered $8.50 a share for Santa Monica-based Mossimo, an 8.8 percent premium on the April 17 closing price and a 13 percent premium on Iconix's purchase price. The Cherokee deal consists of $6 per share in cash and $2.50 per share in common stock. "We believe Cherokee's proposal for Mossimo is superior to Iconix's and provides significant value to Mossimo's shareholders," said Russell Russell, English noble family. It first appeared prominently in the reign of Henry VIII when John Russell, 1st earl of Bedford, 1486?–1555, rose to military and diplomatic importance. J. Riopelle, the chief financial officer of Cherokee, in a statement. The purchase offer is subject to the approval of both Mossimo and Cherokee boards. |
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