<p>Attributing to people familiar with the matter, The Wall Street Journal said in a report about Phillips-Van Heusen Corp (PVH) closing in for a takeover deal of Tommy Hilfiger.<br /><br />The Hilfiger deal would be a first major acquisition in retail circles in years and a big undertaking for New York-based PVH, which has a market capitalisation of around USD 2.4 billion.<br /><br />The report cited people familiar with the matter as saying that London-based private-equity firm Apax Partners, which owns Tommy Hilfiger, had been considering a initial public offering but shelved it for the takeover deal instead.<br /><br />Final details remain to be worked out and the deal could hit a snag, but it is likely to be announced later today, it added.<br /><br />PVH already owns brands such as Calvin Klein and Izod and produces apparel under license for names such as Kenneth Cole Reaction and Donald Trump. Last year, PVH started producing dress shirts under license for Hilfiger.<br /><br />The Hilfiger deal is likely to give PVH more clout with US department stores, which have consolidated in the past decade and have squeezed suppliers to improve profitability.</p>
<p>Attributing to people familiar with the matter, The Wall Street Journal said in a report about Phillips-Van Heusen Corp (PVH) closing in for a takeover deal of Tommy Hilfiger.<br /><br />The Hilfiger deal would be a first major acquisition in retail circles in years and a big undertaking for New York-based PVH, which has a market capitalisation of around USD 2.4 billion.<br /><br />The report cited people familiar with the matter as saying that London-based private-equity firm Apax Partners, which owns Tommy Hilfiger, had been considering a initial public offering but shelved it for the takeover deal instead.<br /><br />Final details remain to be worked out and the deal could hit a snag, but it is likely to be announced later today, it added.<br /><br />PVH already owns brands such as Calvin Klein and Izod and produces apparel under license for names such as Kenneth Cole Reaction and Donald Trump. Last year, PVH started producing dress shirts under license for Hilfiger.<br /><br />The Hilfiger deal is likely to give PVH more clout with US department stores, which have consolidated in the past decade and have squeezed suppliers to improve profitability.</p>