Perry Ellis founder makes offer to take company private

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).