The American fashion company Guess Inc. could get a new majority owner. On Monday, the clothing provider announced that he had a non-binding takeover offer by the US fire management group WHP Global LLC.
The prospective buyer, the portfolio of which already includes brands such as Vera Wang, G-Star and Lotto, offers $ 13.00 (11.90 euros) per share for a large part of Guess’s outstanding shares through its subsidiary WHP Investments LLC. In view of the considerable impact on the recent value, Guess’s share price increased by more than 25 percent after the offer became known during the day.
The shares that are currently owned by Guess co-founder Maurice Marciano, Creative Chief Creative Officer Paul Marciano and CEO Carlos Alberini are excluded from the offer. Changes in management or business strategy are not planned in the event of a takeover, said Guess.
Guess is currently checking the non -binding purchase offer
The company explained that a special committee had already been formed to examine the offer together with external financial and legal consultants: inside. The committee consists of independent board members who have no personal interests in a possible transaction. However, Guess emphasized that it is not yet certain whether a binding takeover offer will be made and it may be implemented.
Guess and WHP Global already combines a business partnership. Last year, both companies had secured the fashion brand RAG & Bone together. A joint venture from the two companies acquired intellectual property rights, Guess took over the operative business of the label and has since operated its stores in the USA and Great Britain.