TowerBrook Capital to Buy True Religion in $835 Mln Deal
TowerBrook Capital Partners has agreed to buy True Religion Apparel in a deal valued at about $835 million. Terms of the deal call for TowerBrook to pay $32 for each share of TrueReligion, the U.S. denim brand. The $32 represents a roughly 52% premium to TrueReligion's share price on Oct. 9., the day before the company announced it was exploring strategic alternatives. Deutsche Bank, Jefferies, UBS Investment Bank and Macquarie Capital are providing committed financing. Guggenheim Securities advised True Religion. Deutsche Bank, Jefferies and UBS advised TowerBrook.
10 May 2013•5 mins read
