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Endeavor Acquisition Corp-EDA.U

post #1 of 19
Thread Starter 
Endeavor Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. The company's efforts in identifying a prospective target business will not be limited to a particular industry, but it intends to focus on service businesses in one of the following segments: business services; marketing services; consumer services; health care services; and distribution services. The company does not have any specific business combination under consideration and it has not (nor has anyone on its behalf) contacted any prospective target business or had any discussions, formal or otherwise, with respect to such a transaction. The company will seek to acquire a business whose operations can be improved and enhanced with its capital resources and where there are substantial opportunities for both organic and acquisition growth. The company intends to initially focus our search on service businesses in the United States, but will also explore opportunities in international markets. The company's initial business combination must be with a target business whose fair market value is at least equal to 80% of its net assets (all of its assets, including the funds held in the trust account, less its liabilities) at the time of such acquisition, although this may entail simultaneous acquisitions of several operating businesses.


This company is CSHD..the way it was supposed to work.
post #2 of 19
Thread Starter 
NEW YORK, Dec 19 (Reuters) - Endeavor Acquisition Corp. (EDA.A: Quote, Profile , Research), a special purpose acquisition company, will buy casual clothing retailer American Apparel Inc. in a deal valued at about $244 million, the companies said on Tuesday.

The retailer, which manufactures all its T-shirts and other cotton basics at a factory in Los Angeles, will get 32.3 million shares of restricted Endeavor stock. Endeavor's shares closed at $7.58 on Monday.

Endeavor will also assume $110 million of debt, create a merger bonus pool of $2.5 million and reserve as many as 2.7 million additional shares for American Apparel employees.



Endeavor is a company formed specially to make acquisitions. Special purpose acquisition companies are often called blank check companies because when they sell shares to the public, the shareholders don't know what the company plans to buy.

The combined company will operate as American Apparel. Plans call for it to trade publicly on the American Stock Exchange or another national stock exchange.

American Chief Executive Dov Charney, who founded the company, will remain in that position.

The deal is expected to close during the summer of 2007.
post #3 of 19
Quote:
Originally Posted by ExplodingWallet
NEW YORK, Dec 19 (Reuters) - Endeavor Acquisition Corp. (EDA.A: Quote, Profile , Research), a special purpose acquisition company, will buy casual clothing retailer American Apparel Inc. in a deal valued at about $244 million, the companies said on Tuesday.....The deal is expected to close during the summer of 2007.
Well at least they make something that can be sold for REVENUE! I'm definitely interested....
post #4 of 19
Thread Starter 
DD the crap outta it
post #5 of 19
Thread Starter 
NEW YORK, Dec 19 (Reuters) - American Apparel, known for its casual cotton clothing and provocative advertising, agreed to be bought by Endeavor Acquisition Corp. (EDA.A: Quote, Profile , Research) in a deal that will effectively allow the retailer to list shares on an exchange without doing a public offering.

American Apparel Chief Executive Dov Charney, who founded the company, will remain CEO, and the combined entity will operate as American Apparel.

The apparel firm, also known for making its clothing in Los Angeles when most companies have moved their manufacturing overseas, is expected to trade publicly on the American Stock Exchange or another national stock exchange, though a time frame was not specified.



The $244 million deal with Endeavor, a publicly traded company formed specifically to make acquisitions, will help fund the garment maker's expansion, the companies said on Tuesday.

American Apparel plans to have as many as 800 stores in the United States and abroad, a spokeswoman said. The retailer declined to give a time frame for the expansion. It currently operates 143 stores in 11 countries.

"We look forward to ... (helping) the company achieve growth through the access to capital this transaction provides," Endeavor President Jonathan Ledecky said in a statement.

Endeavor shares rose 92 cents, or 12 percent, to $8.50 in afternoon trade on the American Stock Exchange

Ledecky has led a slew of business initiatives, including the launch of a small business office supply company, U.S. Office Products, in 1994. That company later filed for bankruptcy after Ledecky left.

In the late 1990s he also headed building management company Building One Service Corp.

Endeavor went public in December 2005. The IPO, including an overallotment option, generated about $130 million.

Special purpose acquisition companies are often called blank check companies because shareholders don't know what the company plans to buy when it first goes public.




American Apparel will get 32.3 million shares of restricted Endeavor stock. Endeavor shares closed at $7.58 on Monday.

Endeavor will also assume $110 million of debt, create a merger bonus pool of $2.5 million, and reserve as many as 2.7 million additional shares for American Apparel employees.

GAP COMPETITION?

American Apparel calls itself the largest garment factory and T-shirt manufacturer in the United States. Sales for 2006 are expected to be $275 million.
post #6 of 19
Thread Starter 
This is an exciting time for American Apparel -- acquiring the necessary financial foundation will give us the opportunity to realize our bigger dreams," Charney said in a statement.

Charney's leadership at American Apparel has been challenged by accusations of sexual misconduct.

Four women sued the company, alleging that it created a sexually hostile work environment. One suit was dismissed without a settlement, two were combined and settled, and one is still pending.

A spokeswoman for American Apparel, Tracey Belko of the public relations firm Sloane & Co., said the last suit "has no merit."


While small, American Apparel is seen as a possible rival to Gap Inc. (GPS.N: Quote, Profile , Research), which operates the Gap chain of casual clothing stores in the United States and abroad. As of Oct. 28, Gap operated 1,338 stores in North America.

In a similar transaction, the parent of Frederick's of Hollywood, the lingerie company that introduced push-up bras to American women in the 1950s, said on Tuesday that it would merge with apparel maker Movie Star Inc. (MSI.A: Quote, Profile , Research) in a deal that will let it become a publicly traded company.

Shareholders of privately held Frederick's will own 60 percent of the combined company, which will be a holding company called Frederick's of Hollywood Group Inc. It will trade under Movie Star's stock symbol on the American Stock Exchange.
post #7 of 19
Thread Starter 
11.30
+.80 today
post #8 of 19
Thread Starter 
12.00 close
post #9 of 19
Thread Starter 
i see no one cares about a stock with hellafied potential spinoffs and jv's
post #10 of 19
Thread Starter 
slanks
post #11 of 19
Thread Starter 
Best Backdoor IPO: Dov Charney's sexual escapades are legendary in the fashion and apparel business. They would have made for fun reading in a prospectus, but American Apparel's founder and chief executive doesn't have to worry about that now. Charney sold his company last week to Endeavor Acquisition Corp. (AMEX: EDA - News), a "blank-check" company. The deal allows American Apparel to go public without dealing with the scrutiny of analysts, investors, and underwriters. Hopefully, the company will do a secondary offering at some point, if only to feed my need to read one trashy novel a year.
post #12 of 19
Thread Starter 
9.94 PPS +8.28 %

# Endeavor Acquisition Corp. (AMEX: EDA - News): A "blank-check" company no more, last month, Endeavor agreed to purchase American Apparel Inc. for $244 million. Under the terms of the deal, EDA will pay American Apparel founder and CEO Dov Charney approximately 32.3 million shares of restricted stock, assume $100 million in debt, create a one-time merger bonus pool of $2.5 million, and reserve up to 2.7 million shares of additional common stock to be made available to American Apparel employees. Charney's stock will be locked up for at least three years, and he is expected to buy out an existing American Apparel investor for $60 million. He will also stay on with the company as CEO, and the deal is expected to close sometime this summer (and one would suspect that Endeavor will change its name at that time). On December 29th, SAC disclosed holdings of 1,751,550 shares of Endeavor, or an 8.7% stake. The firm's holdings include options for 200,000 shares, and it previously disclosed no holdings in Endeavor. SAC's filing lists December 19th as the triggering date for its filing, the day it surpassed the 5% ownership mark and the same day Endeavor announced the American Apparel acquisition.
post #13 of 19
Thread Starter 
and...a Buy was initiated for Lazard Capital. These folks are moving and making acquisitions, unlike CSHD.
post #14 of 19
Thread Starter 
10.13
+2.63 since i called it
post #15 of 19
Thread Starter 
11.34
on a roll !!!
post #16 of 19
Thread Starter 
steamed beef
post #17 of 19
Thread Starter 
this thing is running hard
EDA
and EDA.U

i cant believe some of you are missing out
post #18 of 19
Thread Starter 
woo hoo!!
post #19 of 19
Thread Starter 
just showing some love to EDA
bump
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