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Perry Ellis ends deal talks with Randa

Billy Jean Louis
American City Business Journals
Perry Ellis ends deal talks with Randa

The Perry Ellis International Inc. board of directors on Tuesday said they've ended talks with New York-based Randa Accessories as a potential buyer of the Doral-based company. Randa aimed to take over Perry Ellis [Nasdaq: PERY] at $28.90 a share in an all-cash deal, higher than the company's founder George Feldenkries' offered at $27.50 a share, or $437 million. Although higher, the board concluded Randa's proposal had a key inbound licensor precondition, which is not likely to be satisfied.