The Wall Street Journal reported on December 12th that at least three manufacturers are expected to submit an offer to apparel maker Tommy Hilfiger before the end of the week.
The report quoted informed sources as saying that several fashion companies were interested in acquiring Tommy Hilfiger (TOM), in which private equity companies played a key role in the bidding process.
The report states that the anticipated bidders will include a team of Apax Partners Ltd. and Phillips-Van Heusen (PVH). Another possible acquisition team will include Li & Fung Ltd. in Hong Kong, Iconix Brand Group Inc. (ICON), owner of the Joe Boxer brand, and investment companies Oak Hill Capital Partners and Perry Capital. The third bidder will be private equity firm Sun Capital Partners.
During the fashion week in September of this year, Tommy Hilfiger also held a luxury celebrity party to celebrate the brand's 20th birthday, but the company's sales in the United States were very sluggish.
The report pointed out that the top retailer Wal-Mart (WMT) plans to sign a licensing agreement with the ultimate successful bidder to bring more fashionable merchandise into its stores.
The sales price of Tommy Hilfiger is still uncertain, but the final offer may be lower than its market value of 1.65 billion US dollars.
On Friday, Tommy Hilfiger shares fell 0.4% to $17.90.
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