Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, December 6, 2019

Article Excerpt

VF CORP., $90.42, symbol VFC on New York, designs apparel for the action sports, outdoor, and workwear categories. Its brands include Vans, The North Face, Timberland, and Dickies. In May 2019, VF completed the spinoff of Kontoor Brands Inc. (symbol KTB on New York), its jeanswear business, which includes the Lee and Wrangler brands. VF’s Vans unit is now reportedly preparing a bid for Venice-based Golden Goose, a privately owned Italian luxury sneaker brand. The firm was founded in 2000 by designers Francesca Rinaldo and Alessandro Gallo. Its sneakers sell for as much as $440 a pair. Private equity firm The Carlyle Group LP (symbol CG on Nasdaq), which acquired the luxury brand in February 2017 for 400 million euros ($441 million U.S.), has asked Bank of America to conduct an auction process to sell the label. It’s expecting a select group of non-binding bids for Golden Goose to be received by mid-December. Ultimately, Carlyle expects to receive at least 1.2 billion euros for…