TowerBrook Capital To Pay $835M For True Religion

Law360, New York (May 10, 2013, 1:24 PM EDT) -- TowerBrook Capital Partners has inked a deal to take True Religion Apparel Inc. private for $835 million, ending a seven-month sales process for the trendy jeans maker and marking the latest in a string of big retail buyouts.

The New York- and London-based investor will pay $32 per share for True Religion, a whopping 52 percent premium over the company’s stock price the day before it announced in October it was looking at its options.

“After a thorough review of strategic alternatives to enhance shareholder value,...
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