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LOS ANGELES - Guess?, Inc. (NYSE: GES) is currently reviewing a non-binding acquisition proposal from WHP Global, which has offered to purchase the outstanding shares of the apparel company for $13.00 per share in cash, notably close to InvestingPro’s Fair Value estimate. The stock, currently trading at $11.38, has seen a significant decline of 58% over the past year. The offer excludes shares held by certain key shareholders, including Paul Marciano, Maurice Marciano, and Carlos Alberini.
The Special Committee of Guess?’s Board of Directors, established for the purpose of evaluating this proposal, has engaged Solomon Partners as its financial advisor and Willkie Farr & Gallagher LLP as its legal advisor to assist in the careful consideration of WHP Global’s offer. As of now, the Special Committee has not reached a decision on whether to proceed with the proposed transaction or any other potential deal.
Guess? shareholders are advised that no immediate action is necessary. The company emphasizes that there is no certainty that a definitive offer will be extended, a binding agreement will be signed, or that the proposed transaction—or any transaction—will be finalized and approved.
Guess?, Inc., known for its contemporary apparel, denim, and various fashion accessories, operates and licenses a global network of retail stores. With a presence in approximately 100 countries, Guess? and its partners managed 1,057 retail stores in Europe, the Americas, and Asia, and an additional 541 stores worldwide as of November 2, 2024. The company maintains a notable dividend yield of 10.54% and has consistently paid dividends for 18 consecutive years. For deeper insights into Guess?’s valuation and financial health, access the comprehensive Pro Research Report available on InvestingPro.
The company has stated that it will not provide further comments on the potential acquisition unless there is significant development or disclosure is deemed necessary. This announcement is based on a press release statement and contains forward-looking statements that involve risks and uncertainties, which may result in actual future events differing materially from current expectations.
In other recent news, Guess? Inc. has received a non-binding acquisition proposal from WHP Global, offering $13.00 per share in cash for the outstanding shares not owned by certain key shareholders. The proposal involves financing through a mix of equity and third-party debt, with a Special Committee of independent directors evaluating the offer. Meanwhile, UBS analysts have adjusted their outlook on Guess?, reducing the stock price target to $12 from $15 and maintaining a Neutral rating due to anticipated challenges in the fourth quarter. They expect Guess? to issue earnings guidance for fiscal year 2026 that may fall short of the current consensus forecast.
In addition, Jefferies analyst Corey Tarlowe has revised Guess?’s price target to $14 from $16, maintaining a Hold rating, citing ongoing pressures in the North American retail market despite some support from wholesale operations and acquisitions. Guess? has also announced the resignation of board member Thomas J. Barrack Jr. and the appointment of Christopher N. Lewis as a new independent director. Lewis’s appointment follows a settlement agreement with the Employees Retirement System of Rhode Island, requiring the selection of a new independent director. These developments reflect Guess?’s ongoing efforts to navigate market challenges and governance changes.
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