Cherokee (CHKE) Tops Iconix's Bid for Mossimo (MOSS)
Cherokee Inc. (NASDAQ: CHKE) proposed to acquire all the outstanding shares of Mossimo, Inc. (NASDAQ: MOSS) for $8.50 per common share consisting of $6.00 per share in cash and $2.50 per share in stock.
Cherokee said the proposal represents an 8.8% premium to Mossimo's closing share price of $7.81 on April 17, 2006, and a 13.3% premium to the Iconix Brand Group Proposal.
On April 3rd, Iconix Brand Group, Inc. (Nasdaq: ICON) agreed to acquire Mossimo for $7.50 per share, comprised of $3.25 a share in Iconix stock and $4.25 in cash.
Cherokee said the proposal represents an 8.8% premium to Mossimo's closing share price of $7.81 on April 17, 2006, and a 13.3% premium to the Iconix Brand Group Proposal.
On April 3rd, Iconix Brand Group, Inc. (Nasdaq: ICON) agreed to acquire Mossimo for $7.50 per share, comprised of $3.25 a share in Iconix stock and $4.25 in cash.
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