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Tommy deal to close by spring

NEW YORK – Apax Partners Worldwide, a global private equity firm, will close on its $1.6 billion acquisition of Tommy Hilfiger Corporation paying $16.80 a share in cash by sometime this spring, pending shareholder approval, according to the company.

Company founder Tommy Hilfiger will remain active as principal designer and chairman of the strategy and design board, but serve in a new role upon closing of the transaction. David Dyer, CEO of Tommy Hilfiger Corp., will leave the company and Fred Gehring, CEO of Tommy Hilfiger Europe, will assume leadership. Dyer is also the former president of Lands’ End.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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