Sources with knowledge of the situation report that Authentic Brands Group Inc. is considering submitting a competing bid to acquire the American fashion brand Guess Inc.
These sources suggest that the New York-based company is preparing an offer to rival WHP Global’s $13-per-share all-cash proposal from March.
According to individuals who wished to remain anonymous due to the confidential nature of the discussions, talks are ongoing, and no final decision has been made. A spokesperson for Authentic Brands declined to comment.
Guess announced last month that it has established a special committee of independent directors to assess WHP Global’s proposal, which would include some current shareholders—notably founders Paul and Maurice Marciano—maintaining their ownership stakes. The committee is being advised by Willkie Farr & Gallagher and Solomon Partners.
Founded in 1981 by the Mariano brothers, Guess sells a range of products, including footwear, denim and handbags. In February, the business, in partnership with WHP Global, acquired the fashion brand Rag & Bone.
Authentic Brands, headed by CEO Jamie Salter, possesses a diverse collection of brands and intellectual property, such as Champion, Reebok, and Forever 21.
