Authentic finalises acquisition to take Guess? private

Core Insights - Authentic Brands Group has successfully taken Guess? private by acquiring a majority stake in its intellectual property, restructuring the ownership of its assets [1][3] - The transaction allows Guess? management to retain control over the operating business, with existing shareholders keeping 49% of the intellectual property [1][2] Transaction Details - Authentic acquired 51% of Guess?'s intellectual property, while existing shareholders retained 49% [1] - The deal was executed through a merger, with Glow Merger Sub 1 being absorbed into Guess?, making Guess? a wholly owned subsidiary of Glow Holdco 1 [3] - Following the completion of the deal, Guess?'s shares ceased trading on the New York Stock Exchange, and the company plans to end its public reporting obligations [4] Financial Implications - Public shareholders received $16.75 in cash for each share, excluding stock held by Authentic and rolling shareholders, which was cancelled without payment [4] - Outstanding equity awards were converted into cash at the same price, subject to tax deductions, and the indenture governing its 3.75% convertible senior notes due 2028 was amended [5] - Holders of the convertible notes can demand repurchase at par plus accrued interest by February 23, 2026, or convert them into cash at a rate of $768.37 for every $1,000 in principal [5] Leadership and Future Outlook - Guess? co-founder and CEO Paul Marciano expressed pride in the brand's legacy and highlighted the potential for growth by joining Authentic's platform [6]