Joe's Jeans To Acquire Privately-held Hudson Clothing For About $97.6 Mln

(RTTNews) - Joe's Jeans Inc. (JOEZ) and Hudson Clothing Holdings, Inc., announced that they have signed a definitive stock purchase agreement under which Joe's Jeans will acquire privately-held Hudson for a total purchase price of about $97.6 million.

The company said subject to certain adjustments, the total purchase price will be payable in cash and convertible notes issued by Joe's Jeans.

Joe's Jeans said it expects the transaction will close on or about August 31, 2013 subject to the satisfaction of customary closing conditions as set forth in the definitive stock purchase agreement. The stock purchase agreement terminates unless the transaction closes by August 31, 2013 unless extended by the parties.