Perry Ellis Reportedly Approached By Sequential Brands About Takeover

(RTTNews) - Fashion company Perry Ellis International Inc. (PERY) was recently approached about a takeover by Sequential Brands Group Inc. (SQBG), the Wall Street Journal reported Friday, citing people familiar with the matter.

The status of the talks were unclear and a deal between the two is not assured, the Journal quoted the people as saying.

Another media report said earlier Friday that Perry Ellis has been interviewing investment banks to advise the retailer on its next moves.

The pressure on Perry Ellis mounted after activist investors Legion Partners Asset Management LLC teamed up with California State Teachers' Retirement System and revealed a 6% stake in the company in mid-July.