TowerBrook to Take True Religion Private in $835M Deal

Mergers and AcquisitionsReuters

Jeans and sportswear maker True Religion Apparel Inc (NYSE:TRLG) said it would be acquired by investment management firm TowerBrook Capital Partners LP in a deal worth about $835 million.

TowerBrook will pay $32.00 per share in cash, representing a premium of about 9 percent to the closing price on Thursday.

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The price is 52 percent above True Religion's share price on Oct. 9, 2012, the day before it announced that it was exploring strategic alternatives, True Religion and TowerBrook said.

(Reporting by Esha Dey in Bangalore)