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- Iconix Brand Group Inc ICON has agreed to go private through acquisition by an affiliate of Lancer Capital, LLC.
- The deal is valued at $585 million, including debt.
- Lancer Capital affiliate, Iconix Acquisition Corp will acquire all outstanding shares of Iconix at $3.15 a share in cash.
- The offer represents a premium of 28.6% over Iconix's closing price of $2.45 on Thursday.
- "Today's announcement represents the culmination of a year-long examination by our Board of Directors of strategic alternatives for the Company," said Bob Galvin, Chief Executive Officer.
- Iconix expects the deal to close by the end of the third quarter.
- Price Action: ICON shares are trading higher by 27.8% at $3.13 on last check Friday.
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ICONIcon Energy Corp
$3.002.74%
Edge Rankings
Momentum
0.30
Growth
N/A
Quality
N/A
Value
83.58
Price Trend
Short
Medium
Long
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