Brylane Inc., New York, has engaged Bear, Stearns & Co. as its financial advisor. The company is evaluating a proposal presented by Pinault-Printemps-Redoute S.A., a publicly traded specialty retailer listed on the Paris Bourse (PRTP.PA), to acquire all of the outstanding shares of common stock of Brylane not currently owned by PPR or its affiliates for $20 per share in cash. PPR currently owns approximately 49.9% of Brylane’s outstanding common stock.
Brylane’s portfolio of catalogs includes Lane Bryant, Roaman’s, Jessica London and KingSize, which serve the special size apparel market, and Chadwick’s of Boston, Lerner, Bridgewater and Brett serving the regular-size apparel market. In addition, the Company’s home catalog offers value-priced home products. Brylane also markets certain of its catalogs under the “Sears” name to customers of Sears, Roebuck and Co. under an exclusive licensing arrangement with Sears Shop at Home Services, Inc.
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