POLO RALPH LAUREN BUYS CLUB MONACO
By Adnews Staff
Club Monaco Inc. of Toronto has announced that it has made an agreement with Polo Ralph Lauren of New York for Ralph Lauren to purchase Club Monaco. Ralph Lauren will make a take over bid to purchase all of the outstanding shares of Club Monaco for C$13 per share in cash. Under the agreement which is expected to be mailed out later this week, Club Monaco would continue to operate as a separate subsidiary within Polo Ralph Lauren. The transaction is expected to close by spring and is subject to Canadian regulatory approval. Club Monaco is an international specialty retailer which operates 125 stores selling casual apparel and other accessories for men, women and children under the brand name "Club Monaco."
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