Mossimo merger.
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. Inc., which makes and licenses clothes under
brands including Candle's and Joe Boxer Joe Boxer (also known as Box-oh-Joes, or BJ) is a brand of underwear and related apparel, founded by Nicholas Graham. The brand pioneered the concept of novelty hanging underwear. Joe Boxer is a wholly owned subsidiary of Iconix Brand Group. , said it has agreed to
acquire 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. in a stock and cash deal valued at $119 million,
sending the Santa Monica-based apparel company's shares surging
more than 43 percent. New York-based Iconix ICONIX is an Agile software development process which predates both the Rational Unified Process (RUP) and Extreme Programming (XP), but shares some similarities. Like RUP the ICONIX process is use case driven but is more lightweight like XP. said it would acquire all of
Mossimo's shares for $7.50 per share, comprised of $3.25 per share
in Iconix stock and $4.25 in cash. The offer price is a 37 percent
premium over Mossimo's Friday closing price of $5.47. The deal is
subject to a potential $16 million adjustment if Iconix shares
don't rise to a level that would value the deal at $8.50 a share
within a year of its closing.
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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