Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, February 22, 2019

Article Excerpt

LEVI STRAUSS & CO. is now expected to go public with an IPO this year. The shares would trade on the New York exchange under the symbol LEVI. The family-controlled company is looking to raise over $600 million. Levi Strauss is a 165-year-old firm and the inventor of blue jeans. Bavarian-born, dry goods businessman Levi Strauss teamed with tailor Jacob Davis in 1873 to secure a U.S. patent putting rivets on men’s work pants, a process that ensured greater durability. Although denim pants had been around for some time, the patent created the “blue jean.” Today, the company sells its apparel through its own name-branded stores, chain retailers, department stores and online sites. It operates around 3,000 name-brand stores worldwide. The IPO would return Levi Strauss to the public markets. The company first went public in 1971, but was then taken private in 1981 in a leveraged buyout. In addition to the Levi’s brand, the company owns Signature by Levi Strauss, Denizen, and Dockers…

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