Phillips-Van Heusen Nears a Deal for Tommy Hilfiger

Phillips-Van Heusen, the big clothing conglomerate that owns Calvin Klein, is near a deal to buy Tommy Hilfiger for about 2.2 billion euros in cash and stock, people briefed on the matter told DealBook on Sunday night.

…Phillips-Van Heusen, the big clothing conglomerate that owns Calvin Klein, is near a deal to buy Tommy Hilfiger, once a leading purveyor of colorful preppy clothing, for about 2.2 billion euros ($3 billion) in cash and stock, people briefed on the matter told DealBook on Sunday night.
Phillips-Van Heusen, which also owns Arrow and Izod and licenses brands like Geoffrey Beene and Kenneth Cole New York, is hoping to take advantage of Tommy Hilfiger’s strong European distribution channels as a platform for its own products, these people said. Despite Tommy Hilfiger’s reputation as a quintessentially American clothier, two-thirds of the company’s business is based in Europe.
A deal could be announced as soon as Monday morning, though these people warned that talks were continuing and a deal might not be reached.
If completed, the deal would be only the latest to emerge from an active market for mergers and acquisitions, as corporate buyers feel more confident in pursuing long-desired targets.
Speculation had…

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Phillips-Van Heusen Nears a Deal for Tommy Hilfiger

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