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Article: Does Liz love Ellen? Claiborne-Tracy deal said near finish line.(Liz Claiborne Inc. proposed acquisition of Ellen Tracy Inc.)
- Article from:
- WWD
- Article date:
- August 14, 2002
- Author:
CopyrightCOPYRIGHT 2002 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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NEW YORK -- A deal between giant Liz Claiborne Inc. and Ellen Tracy could come any day now
While any agreement could be derailed by last-minute hiccups, sources said that Claiborne, the $3.4 billion diversified apparel firm, is already restructuring in anticipation of completing the acquisition of Ellen Tracy, the $250 million bridge sportswear company Reports that Claiborne was negotiating with Ellen Tracy appeared in WWD last month.
Neither Paul Charron, chairman and chief executive officer of Claiborne, nor Herbert Gallen, chairman and ceo of Ellen Tracy, would comment. But in a conference call last month, Charron said, "The current environment ...