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Article: Crystal Brands to acquire Palm Beach. (Palm Beach Holdings Inc.)
- Article from:
- PR Newswire
- Article date:
- October 31, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. 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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CRYSTAL BRANDS TO ACQUIRE PALM BEACH
SOUTHPORT, Conn., Oct. 31 /PRNewswire/ -- Crystal Brands, Inc. (NYSE: CBR) and Palm Beach Holdings, Inc. today jointly announced that Crystal Brands will acquire Palm Beach Holdings, the parent company of Palm Beach Incorporated, for approximately $95,500,000 in cash.
The transaction will also result in the refinancing of approximately $195,000,000 of long-term debt of Palm Beach anticipated to be outstanding at the closing. The merger is expected to be completed in December. The transaction is subject to the approval of the shareholders of Palm Beach Holdings, but has been approved by the directors of both ...
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Article: Palm Beach cost puts Crystal in red. (clothing ...
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... ... s sportswear, Crystal Brands' interest expenses ... its acquisition of Palm Beach and Trifari pushed ... the addition of Palm Beach, sales jumped 91 ... 86,630,000. Crystal Brands acquired Palm Beach in December 1988 ...
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