Randa Accessories Offers To Buy Perry Ellis For $28.00/shr

(RTTNews) - Randa Accessories said that it has made a non-binding proposal to acquire 100% of the outstanding common shares of Perry Ellis International Inc. (PERY) at a price of $28.00 per share.

Randa Accessories noted that the proposal was made following the merger agreement between Perry Ellis and a newly formed entity controlled by its founder and director, George Feldenkreis, and represents $0.50 per share more than the consideration offered in that insider transaction.

Jeffrey Spiegel, the Chief Executive Officer of Randa Accessories, said "Randa believes we are the right acquiror of Perry Ellis and that our compelling proposal provides shareholders with a superior alternative to the previously agreed insider transaction. We are excited by the opportunity to grow our portfolio of brands through the addition of globally recognizable names, such as Perry Ellis and Original Penguin".