Phillips-Van Heusen to acquire Calvin Klein, Inc; Combines powerful global brand with strong infrastructure and financial resources necessary to fuel growth; PVH will develop growth opportunities with new lifestyle offerings, retail and global expansion and increased marketing support.

0 Comments | M2 Presswire, December, 2002

M2 PRESSWIRE-18 December 2002-APAX PARTNERS: Phillips-Van Heusen to acquire Calvin Klein, Inc; Combines powerful global brand with strong infrastructure and financial resources necessary to fuel growth; PVH will develop growth opportunities with new lifestyle offerings, retail and global expansion and increased marketing support(C)1994-2002 M2 COMMUNICATIONS LTD RDATE:12182002 London -- Phillips-Van Heusen Corporation (NYSE: PVH) has announced that it has entered into a definitive agreement to acquire Calvin Klein, Inc.

(CKI), one of the world`s leading lifestyle brands, in a transaction approaching $700 million. The value of the transaction includes $400 million in cash, approximately $30 million in PVH stock as well as warrants and an ongoing financial...