Gloria Vanderbilt Jeans is just one brand that the company plans to acquire from Jones Group.
In a statement to the TASE today, lingerie maker Delta Galil Industries Ltd. (Pink Sheet: DELTY; TASE: DELT), controlled by Isaac Dabah, confirmed "Globes'" report that it was in talks to acquire Gloria Vanderbilt Jeans and other brands from Jones Group Inc. (NYSE: JNY) for $350-400 million. Delta would also acquire the working capital, fixed assets, and licenses for several jeans brands.
Delta Galil added that the price could change either way depending on the net working capital and other adjustments.
Delta Galil's share price was unchanged on Wall Street yesterday at $4.65, and rose 10% in morning trading on the TASE today to NIS 22, giving a market cap of NIS 510 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 11, 2011
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