Davis Polk Reps VF In $2B Timberland Buy

Law360, New York (June 13, 2011, 12:08 PM EDT) -- VF Corp., owner of The North Face and other apparel brands, said Monday it would shell out $2 billion to buy footwear and clothing company The Timberland Co. in an effort to boost its outdoor and action sports businesses.

The all-cash deal has already gained approval from both companies' boards of directors, and calls for VF to pay Timberland shareholders $43 per share, the buyer said. The acquisition will push VF's portfolio, which also includes the Wrangler and Nautica brands, to generate 50 percent of its...
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