George Feldenkreis made a proposal to acquire remaining 89.15% stake in Perry Ellis International, Inc. (NasdaqGS:PERY) for approximately $390 million on February 6, 2018. The acquisition agreement is signed on June 15, 2018. Under the terms of agreement, George Feldenkreis will acquire Perry Ellis International's remaining stock for $27.5 per share. George Feldenkreis already owns 1.58 million shares of Perry Ellis and 0.058 million stock appreciation rights, 3,706 shares of restricted stock held George Feldenkreis, which vest on April 22, 2018, and 2,923 shares of restricted stock held by George Feldenkreis, which vest on April 20, 2018. As of July 5, 2018, George Feldenkreis own 1.6 million common shares and 3,974 shares of restricted stock of Perry Ellis. On June 16, 2018, transaction will be financed through a senior secured asset backed revolving loan facility underwritten by Wells Fargo Bank, N.A., PNC Capital Markets LLC and HSBC Bank USA, National Association a $282 million multi-tranche term financing facility provided by Fortress Credit Advisors LLC and equity provided by the Feldenkreis family. $282 million of credit facilities consisting of a $140 million first lien credit facility, $95 million second lien credit facility and $47 million real estate bridge loan facility. Perry Ellis International shall pay an amount of $8.7 million to George Feldenkreis on account of termination fees whereas George Feldenkreis shall pay an amount of $17.5 million on account of termination fees. Following completion of the transaction, Oscar Feldenkreis will continue to lead Perry Ellis as Chief Executive Officer. George Feldenkreis, Director and Founder, will return to an active role in the management of the Perry Ellis. The transaction is subject to customary closing conditions, including approval by Perry Ellis shareholders (including a majority of the shares owned by shareholders other than the Feldenkreis family or any officers or directors), waiting period applicable under the HSR Act, receipt of regulatory approvals, consummation of due diligence, receipt of financing commitments with respect to the financing necessary to complete the transaction, negotiation of a satisfactory acquisition agreement with customary terms and conditions and reaching agreements with the management of the Perry Ellis International with respect to their ongoing roles as managers. As on June 16, 2018, the transaction was unanimously approved by the Perry Ellis Board of Directors, acting on the unanimous recommendation of a special committee of independent Directors, composed of Joe Arriola, Jane DeFlorio, Bruce J. Klatsky, Michael W. Rayden and J. David Scheiner, that was granted full authority to conduct a comprehensive strategic review and evaluate negotiate the Feldenkreis acquisition proposal. On July 10, 2018, the transaction was granted early termination notice by Federal Trade Commission. As of September 10, 2018, a special meeting of Perry Ellis shareholders has been scheduled to be held on October 18, 2018. The Special Meeting of Perry Ellis shareholders held on October 18, 2018 approved the proposed transaction. The transaction is expected to close in the second half of 2018. As on October 18, 2018, the transaction is expected to close within the coming days. Steve Wolosky, Elizabeth Gonzalez-Sussman, Michael Neidell, Steven Gursky, John Moon, Kenneth Silverman, Marisa Lusthaus, Mohammad Malik, Lauren Irby and Shawn Fateh of Olshan Frome Wolosky LLP and Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A acted as legal advisors while SCOPE Advisors, LLC acted as financial advisor to group led by George Feldenkreis. David Nemecek and Nisha Kanchanapoomi of Kirkland & Ellis LLP acted as legal advisor to funds managed by affiliates of Fortress Investment Group. Institutional Shareholder Services Inc. and Glass, Lewis & Co. acted as the proxy solicitors to Perry Ellis stockholders to vote for the deal. Robert B. Schumer, Eric Goodison, John C. Kennedy, Marco V. Masotti, David Harris, Andrew Gaines, Jarrett Hoffman, Audra Soloway, Maria Keane, Andrew Gordon, Stephen Lamb, Claudine Meredith-Goujon, Peter Fisch, David Mayo, Loretta Ippolito, Alan Halperin, Jessica Soojian, Marta Kelly, William O’Brien and Kelly D. Parker of Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stephen Roddenberry and Carl D. Roston of Akerman LLP acted as legal advisors to special committee of Perry Ellis International. PJ SOLOMON acted as financial advisor to assist Special Committee of Perry Ellis International in its review and will receive approximately $6.6 million to $6.8 million as advisory fees, a substantial portion of which is contingent upon the closing of the merger and a portion of which was payable upon the delivery by PJ SOLOMON of its opinion. Innisfree M&A Incorporated is serving as proxy solicitor to Perry Ellis and will receive a fee of $0.03 million. Dan Ganitsky and Christopher Bell of Proskauer Rose LLP are serving as legal advisors to the group led by George Feldenkreis. Steven Stokdyk of Latham & Watkins LLP acted as legal advisor for SCOPE Advisors. Continental Stock Transfer & Trust Company, Inc. acted as transfer agent to Perry Ellis. Otterbourg P.C. acted as legal advisor to Wells Fargo Bank, N.A. Stearns Weaver Miller Weissler Alhadeff & Sitterson acted as legal advisor to Oscar Feldenkreis. George Feldenkreis completed the acquisition of remaining 89.15% stake in Perry Ellis International, Inc. (NasdaqGS:PERY) on October 22, 2018. Shares of Perry Ellis ceased trading on the Nasdaq Global Select Market prior to the open of trading on October 22, 2018 and will no longer be listed on an exchange or quotation system.