Feb 7, 2018

Perry Ellis founder makes offer to take company private

Dan Primack, author of Pro Rata

Perry Ellis founder George Feldenkreis. Photo by JP Yim/Getty Images

George Feldenkreis, the founder of Perry Ellis International, and Fortress Investment Group have offered to buy the apparel company for $430 million, or $27.50 per share (18.6% premium to yesterday’s closing price).

The backstory: Feldenkreis was ousted as executive chairman just six months ago, despite having installed his son as CEO (following activist pressure to split the chairman and CEO roles).

Bottom line from the WSJ:

"Feldenkreis, who continues to sit on the board, has grown frustrated with what he sees as a short-term focus and an unwillingness to invest in the business on the part of his fellow directors... He thinks that as a private company, Perry Ellis would have an easier time beefing up its marketing, e-commerce and its international business, and possibly acquiring more brands."

Go deeper

Updated 41 mins ago - Politics & Policy

CNN crew arrested live on air while reporting on Minneapolis protests

CNN's Omar Jimenez and his crew were arrested Friday by Minneapolis state police while reporting on the protests that followed the death of George Floyd, a black man who died in police custody in the city.

What happened: CNN anchors said Jimenez and his crew were arrested for not moving after being told to by police, though the live footage prior to their arrests clearly shows Jimenez talking calmly with police and offering to move wherever necessary.

First look: Trump courts Asian American vote amid coronavirus

Photo: Sarah Silbiger/Getty Images

The president's re-election campaign debuts its "Asian Americans for Trump" initiative in a virtual event tonight, courting a slice of the nation's electorate that has experienced a surge in racism and harassment since the pandemic began.

The big question: How receptive will Asian American voters be in this moment? Trump has faced intense criticism for labeling COVID-19 the "Chinese virus" and the "Wuhan virus" and for appearing to compare Chinatowns in American cities to China itself.

How the U.S. might distribute a coronavirus vaccine

Illustration: Annelise Capossela/Axios

Now that there are glimmers of hope for a coronavirus vaccine, governments, NGOs and others are hashing out plans for how vaccines could be distributed once they are available — and deciding who will get them first.

Why it matters: Potential game-changer vaccines will be sought after by everyone from global powers to local providers. After securing supplies, part of America's plan is to tap into its military know-how to distribute those COVID-19 vaccines.