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September 1, 2005
WASHINGTON, D.C., September 1, 2005 - Covington & Burling advised Perseus LLC, a merchant bank and private equity fund management company, in the acquisition of Dallas-based clothing maker Haggar Corp. Perseus, along with Infinity Associates LLC and Symphony Holdings Limited, acquired Haggar in a transaction valued at approximately $212 million.
According to the terms of the agreement, Haggar stockholders will receive $29 in cash for each share of common stock. Haggar's board of directors unanimously approved the merger agreement and recommended the stockholders adopt the agreement as well. The transaction is expected to close by the end of 2005.
The Covington team included Scott Smith, Kenneth Ebanks, Peter Schwartz, and Emily Zarins.