Phillips-Van Heusen Corporation to Acquire Tommy Hilfiger B.V. for Approximately $3.0 Billion
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PVH will acquire Tommy Hilfiger on a cash-free/debt-free basis, plus the assumption of EUR 100 million in liabilities and a customary working capital adjustment. The transaction is subject to receipt of financing by PVH, which PVH has agreed to obtain subject to certain limitations on cost and terms. In the event that the transaction does not close due to failure to obtain the financing or certain other conditions, PVH has agreed to pay EUR 69 million to the selling shareholders.
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