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Article: AMERICAN APPAREL DEAL HIGHLIGHTS 'SPACS' ; L.A.-BASED FIRM TO BE ACQUIRED BY ENDEAVOR, A SPECIAL-PURPOSE ACQUISITION CORPORATION, FOR $398 MILLION.
- Article from:
- Daily News Record
- Article date:
- January 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ADAM TSCHORN
LOS ANGELES - An apparel company seeking access to market capital used to have a single option: the time-consuming process of an initial public offering (IPO). In 2004, True Religion showed there was more than one way to skin a cat when it went public through a reverse merger into an existing shell corporation. The apparel industry took note and within two years a rash of L.A. labels like Antik Denim, People's Liberation and Whiteboy took their companies public in similar mergers.
On Dec. 18, Los Angeles-based manufacturer and retailer American Apparel Inc. added another page to the playbook when it agreed to be acquired by publicly ...