On the block party.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. , which owns Candie's, 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. and Rampage, hit a bump in the road to its acquisition of Santa Monica-based Mossimo Inc. The Securities and Exchange Commission said that it would take at least two months to examine the proxy documents. The transaction, which had been scheduled in July, will now likely be delayed at least until September. The Mossimo buyout has been a tough one from the start for Iconix. After the firm made its offer to purchase Mossimo for about $119 million, Cherokee Inc. stepped in. The Van Nuys-based company cut a licensing deal with Mossimo and Target Inc., and now gets a 15 percent cut on all Mossimo sales at Target stores. Cherokee made an unsolicited counteroffer In contract law, a proposal made in response to an original offer modifying its terms, but which has the legal effect of rejecting it. A counteroffer normally terminates the original offer, but the original offer remains open for acceptance if the counteroffer expressly for about $135 million, forcing Iconix to agree to pay Cherokee a $33 million finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. when its deal closes. While it waits for the deal to close, Iconix executives are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to expand Mossimo beyond Target stores. BY EMILY BRYSON YORK Staff Reporter |
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