HONG KONG, LONDON and NEW YORK, May 9 /PRNewswire-FirstCall/ -- Tommy Hilfiger Corporation (NYSE:TOM) today announced that its shareholders voted to approve the merger agreement with Elmira 2 B.V. and Elmira (BVI) Unlimited, which are subsidiaries of funds advised by Apax Partners, at a special meeting of shareholders held today. The merger is expected to close tomorrow, May 10, 2006, subject to the satisfaction of other previously disclosed closing conditions. In accordance with the terms of the merger agreement, at the closing, each ordinary share of Tommy Hilfiger Corporation will be converted into the right to receive $16.80 in cash, without interest. About Tommy Hilfiger Corporation Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's and women's sportswear, jeanswear and childrenswear. The Company's brands include Tommy Hilfiger and Karl Lagerfeld. Through a range of strategic licensing agreements, the Company also offers a broad array of related apparel, accessories, footwear, fragrance, and home furnishings. The Company's products can be found in leading department and specialty stores throughout the United States, Canada, Europe, Mexico, Central and South America, Japan, Hong Kong, Australia and other countries in the Far East, as well as the Company's own network of outlet and specialty stores in the United States, Canada and Europe. About Apax Partners Apax Partners is one of the world's leading private equity investment groups, operating across the United States, Europe, Israel and Asia. Apax Partners has raised or advised approximately US $20 billion around the world. With more than 30 years of direct investing experience, Funds advised by Apax Partners provide long-term equity financing to build and strengthen world-class companies. It pursues a multi-stage equity investment strategy, investing in late venture, growth capital and buyouts. Examples of retail and consumer investments include: Phillips-Van Heusen, Tommy Bahama, Spyder Active Sports, Dollar Tree Stores, The Children's Place, Charlotte Russe and Focus Wickes. Funds advised by Apax Partners invest in companies across its global sectors of Retail & Consumer, Tech & Telecom, Media, Healthcare and Financial & Business Services. Safe Harbor Statement Statements made by the Company that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are indicated by words or phrases such as "anticipate," "estimate," "project," "expect," "believe" and similar words or phrases. Such statements are based on current expectations and are subject to certain risks and uncertainties, many of which are beyond our control including, but not limited to, the overall level of consumer spending on apparel; the financial strength of the retail industry generally and the Company's customers, distributors, and licensees in particular; changes in trends in the market segments and geographic areas in which the Company competes; the level of demand for the Company's products; actions by our major customers or existing or new competitors; the effect of the Company's strategy to reduce U.S. distribution in order to bring supply and demand into balance; changes in currency and interest rates; changes in applicable tax laws, regulations and treaties; changes in economic or political conditions or trade regulations in the markets where the Company sells or sources its products; the effects of any consolidation of the Company's facilities and actions to reduce selling, general and administrative expenses; the ability to satisfy closing conditions in connection with the Company's merger agreement; the outcome of the class action lawsuits against the Company and the Company's discussions with the Hong Kong Inland Revenue Department and other tax authorities and the financial statement impact of such matters; as well as other risks and uncertainties set forth in the Company's publicly-filed documents, including this press release and the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2005. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACTS: Investor Relations: Public Relations: Valerie Martinez Kekst and Company (212) 549-6780 Ruth Pachman/Wendi Kopsick (212) 521-4891/4867 DATASOURCE: Tommy Hilfiger Corporation CONTACT: Investor Relations: Valerie Martinez of Tommy Hilfiger Corporation, +1-212-549-6780; or Public Relations: Ruth Pachman, +1-212-521-4891, or Wendi Kopsick, +1-212-521-4867, both of Kekst and Company, for Tommy Hilfiger Corporation Web site: http://www.tommy.com/

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