VF/Nautica a Done Deal
Nautica Enterprises Inc.’s shareholders approved the company’s purchase by VF Corp., completing the acquisition, worth about $600 million. The merger makes Nautica a wholly owned subsidiary of VF, the Greensboro, S.C.–based maker of Lee Jeans, Vanity Fair lingerie and Eastpak backpacks. VF will pay Nautica’s common stockholders $17 a share. Nautica will join the Earl Jean, John Varvatos and E. Magrath brands in a new VF sportswear unit, said Mackey J. Mc- Donald, VF’s chairman and chief executive officer.
