On Monday Nov. 9, lifestyle apparel company VF Corporation (NYSE: VFC) and popular streetwear brand Supreme (NSE:SUPREMEIND) jointly announced that they have signed a definitive merger agreement. VF is acquiring Supreme for $2.1 billion.
Details of the Deal
The transaction is on track to be completed late this calendar year, 2020 and is subject to customary closing conditions and regulatory approval. Details of the deal were discussed in a conference call held by VF at 8:30 a.m. EST on Monday. The company also provided an investor presentation on their website at around 7:30 a.m. EST the same day. According to a report from CNBC, VF would make an additional payment of up to $300 million subject to satisfaction of certain post-deal closing milestones.
In addition, as part o...