Home    Resource Store    Past Issues    Buyers' Guide    Career Center    Subscriptions    Advertising    E-Newsletter    Contact

Textile World Photo Galleries
September/October 2015 Sept/Oct 2015

View Issue  |

Subscribe Now  |


Textiles - A Circular Life
10/05/2015 - 10/10/2015

Cashmere World Forum 2015
10/07/2015 - 10/09/2015

The Development of Textile & Apparel Inudstry Under The Regional Economic Integration Seminar
10/20/2015 - 10/20/2015

- more events -

- submit your event -

Printer Friendly
Full Site
Textile News

WestPoint Stevens Receives Buyout Offer From CEO

WestPoint Stevens Inc., West Point, Ga., received a proposal from Holcombe T. Green Jr., chairman and CEO of the company, to acquire WestPoint Stevens in a leveraged buyout transaction.

Green proposed that all outstanding shares of WestPoint Stevens’ common stock be acquired for $21.00 per share through a merger of an entity owned by Green’s affiliates with WestPoint Stevens.

Approval of the transaction will be subject to the negotiation of a definitive merger agreement, the approval of WestPoint Stevens’ board of directors and stockholders and receipt of appropriate financing.

In November 1999, WestPoint Stevens hired Merrill Lynch & Co. to assist the board in exploring strategic and financial alternatives for the purpose of enhancing stockholder value.

While there is no guarantee that a transaction with Green and his affiliates will result, Merrill Lynch is currently evaluating the buyout proposal and will continue to investigate other possible financial options for WestPoint Stevens.

April 2000