GREENWICH, Conn., Oct. 31, 2012 /PRNewswire/ --Blue Harbour Group, L.P., which has been a lead shareholder of Warnaco Group Inc. since August 2011 and previously had been a lead shareholder in PVH Corp., today commented on Warnaco's agreement to be acquired by PVH for $68.43 in cash and stock, based on PVH's last closing stock price.
Lauren Taylor Wolfe, a Managing Director of Blue Harbour Group, said, "Manny Chirico is a great business builder. As a current lead shareholder in Warnaco and a former shareholder in PVH, we have discussed with both companies over the past year or more our view that this combination is strategically compelling and would be very positive for both PVH and Warnaco shareholders."
As of its most recent filings, Blue Harbour Group owned more than 3% of Warnaco's common equity, and has been a lead shareholder of the company for more than a year. Blue Harbour also formerly was a lead shareholder in PVH Corp., with an approximately 7% ownership position leading up to PVH's acquisition of Tommy Hilfiger.
Blue Harbour Group, founded by CEO Clifton S. Robbins, was formed in 2004 to pursue an Active Ownership investment strategy by acting as a lead minority shareholder primarily in U.S. publicly traded companies, and working collaboratively with managements and boards to identify initiatives to create and unlock shareholder value.
Blue Harbour manages $1.2 billion in capital on behalf of institutional investors.
Contact:
Adam Weiner
212-521-4800
adam-weiner@kekst.com
SOURCE Blue Harbour Group, L.P.
