Jarden Corp. has raised net proceeds of $475 million from its previously reported secondary offering of 10 million shares, plus an additional 1.5 million shares as a greenshoe option. The proceeds will be used for the planned acquisition of Jostens.
2015-10-31T00:00:00+00:00
Jarden Corp. has raised net proceeds of $475 million from its previously reported secondary offering of 10 million shares, plus an additional 1.5 million shares as a greenshoe option. The proceeds will be used for the planned acquisition of Jostens.
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The sporting goods group will pay down debt at a premium while announcing its Q4 earnings date for Feb. 24.
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The multi-brand group now owns 51% of Guess’s IP whilst management retains full operational control, making the fashion brand Authentic’s second-largest asset.
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The €1.5 billion all-cash deal makes the Chinese giant PUMA’s largest shareholder.
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