Clothing retailer Liz Claiborne Inc. on Thursday said it bought C&C California Inc., a maker of apparel sold at high-end department stores. The price consists of an initial payment of $28 million - 60 percent of C&C's initial valuation - plus additional payments in 2007, 2008 and 2009 based on earnings. C&C recorded sales in 2004 of $21 million.
Liz Claiborne expects the transaction to be accretive to fiscal 2005 earnings per share by 3 cents. Read more...
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