Haggar purchasers get debt financing commitment from Merrill

By Sara Rosenberg

New York, Sept. 1 - The investor group that has agreed to buy Haggar Corp. has received a debt commitment from Merrill Lynch Capital to help fund the purchase, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Under the purchase agreement, Infinity Associates LLC, Perseus LLC and Symphony Holdings Ltd. agreed to buy Haggar for $29.00 in cash for each share of Haggar common stock for a transaction value of about $212 million.

Completion of the transaction is contingent on, among other things, regulatory review, approval by the stockholders of Haggar and funding of debt. The purchase is expected to close by the end of the year.

Haggar is a Dallas-based marketer of men's casual and dress apparel and women's sportswear.

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