Apparel cataloger Brylane Inc., based in New York, has entered into a merger agreement with French cataloger/retailer Pinault-Printemps-Redoute S.A.
Under the terms of the merger agreement, PPR will launch a tender offer to purchase all of the outstanding shares of Brylane not owned by PPR at a price of $24.50 per share in cash.
The two firms said that the tender offer would begin next week.
Brylane and PPR also said they have reached an agreement with opposing lawyers regarding the proposed settlement of various class actions that have been filed relating to the transaction.
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