Fossil, Inc to acquire Skagen Designs Ltd

Fossil, Inc announced that it has entered into an agreement to acquire Skagen Designs Ltd and certain of its international affiliates for approximately $225 million in cash,
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Fossil, Inc announced that it has entered into an agreement to acquire Skagen Designs Ltd and certain of its international affiliates for approximately $225 million in cash, subject to a working capital adjustment, and 150,000 shares of Fossil, Inc common stock. In addition, the sellers may receive up to 100,000 additional shares of Fossil common stock if Fossil's net sales of Skagen-branded products exceed certain thresholds. Skagen Designs, based in Reno, Nevada, manufactures, markets and distributes watches, jewellery, sunglasses and clocks. The acquisition, which is subject to certain conditions, including regulatory approval, is expected to be finalised in February 2012.

 
 
 
 
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