Report : Randa Accessories May Outbid Founder In Deal For Perry Ellis

(RTTNews) - Perry Ellis International Inc.'s (PERY) founder is about to get some competition on his proposed buyout of the apparel brand, the Wall Street Journal reported citing people familiar with the matter.

Men's accessories company Randa Accessories is preparing to submit a $28-a-share bid for Perry Ellis that could upend Perry Ellis founder and former executive chairman George Feldenkreis's $27.50-a-share deal to take the apparel company private, the report said.

Feldenkreis and his son Oscar, the company's current chief executive, are two of Perry Ellis's biggest investors. Their deal in place for Perry Ellis values the company at about $437 million; the Randa bid would value it at about $444 million.