Fenwick & West represented Skagen Designs Ltd. and its affiliated companies in its acquisition by Fossil, Inc. (Nasdaq: FOSL) for $225 million in cash and 150,000 shares of Fossil, Inc. common stock. In addition, the Skagen stockholders may receive up to 100,000 additional shares of Fossil common stock if Fossil's net sales of Skagen-branded products exceed certain thresholds. The acquisition, which is subject to certain conditions, including regulatory approval, is expected to close in February 2012.
Skagen Designs, an international company based in Reno, NV with headquarters in Denmark and Hong Kong, makes watches, jewelry, sunglasses, and clocks. Its products are sold in 75 markets around the world and at company stores in Denmark, Germany, the U.K., and Hong Kong.
The Fenwick transaction team included corporate attorneys Kris Withrow, Doug Cogen, Robert Mobassaly, Ryan Slunaker, and Mark-Jan Arends; antitrust attorney Mark Ostrau; executive compensation and employee benefits attorneys Shawn Lampron and Marshall Mort; and tax attorneys David Forst and Larissa Neumann. More information about the transaction is available in the official press release from Fossil, Inc.