$185 Million Merger
We represented Everlast Worldwide Inc., a leading designer, manufacturer and marketer of boxing and fitness related sporting goods equipment and worldwide licensor of the Everlast brand, in its $185 million merger with Brands Holding Limited, a wholly-owned subsidiary of Sports Direct International plc, a publicly traded company on the London Stock Exchange. Our client originally entered into a merger agreement with another potential purchaser pursuant to which stockholders were to receive $26.50 per share. Under this merger agreement, our client had the right to seek out a more favorable transaction during a 30-day “go-shop” period. During this period, we represented Everlast in the negotiation of a transaction with Brands Holdings Limited, pursuant to which the consideration paid to stockholders increased to $33 per share.