Fossil To Buy Accessories Maker Skagen For $237M

Law360, New York (January 10, 2012, 1:40 PM EST) -- Watch and clothing accessories maker Fossil Inc. will acquire rival Skagen Designs Ltd. for about $237 million in cash and stock, the companies announced Tuesday.

Fossil, which is looking to tap into Reno, Nev.-based Skagen's line of contemporary Danish design watches, jewelry, sunglasses and clocks, will pay about $225 million in cash and 150,000 shares of its common stock for the company and certain international affiliates.

Additionally, the sellers could receive another 100,000 shares of Fossil common stock if Fossil's net sales of Skagen brand products...
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