Perry Ellis Receives $27.50/shr Cash Offer From George Feldenkreis - Quick Facts

(RTTNews) - Perry Ellis International (PERY) confirmed Wednesday the receipt of an unsolicited, conditional proposal from its Founder and ousted Executive Chairman George Feldenkreis to acquire the company for $27.50 per share in cash.

Perry Ellis has advised that shareholders do not need to take any action at this time.

The Non-Executive Chairman of the Board of Directors intends to recommend that the Board form a special committee of its non-executive, independent directors in consultation with its financial and legal advisors to carefully review and evaluate the Proposal and determine the course of action that it believes is in the best interest of the Company's shareholders.