UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 15, 2001
LIZ CLAIBORNE, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 001-10689 13-2842791
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification Number)
1441 Broadway
New York, NY 10018
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 626-3500
NOT APPLICABLE
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On May 16, 2001, Liz Claiborne, Inc., a Delaware corporation (the
"Company") (NYSE: LIZ), issued a press release (the "Press Release") announcing
that it had entered into a Share Purchase Agreement, dated as of May 15, 2001
(the "Purchase Agreement"), with, among other parties, the shareholders of Mexx
Group B.V., a private company with limited liability incorporated and existing
under the laws of The Netherlands ("Mexx"), to acquire all of the outstanding
ordinary and preference shares of Mexx. Mexx is engaged in the design,
marketing, wholesale, retail and licensing of a wide range of fashion and
fashion-related products for women, men and children under the various Mexx
brands.
Under the terms of the Purchase Agreement, subsidiaries of the Company
will acquire 100 percent of the outstanding ordinary and preference shares of
Mexx for an approximate purchase price of 300 million Euro in cash at closing,
including the assumption of debt, plus an earn-out designed to equal 28% of
future implied equity value of Mexx, payable at the election of either the
former shareholders of Mexx or the Company with respect to the year ended
December 31, 2003, 2004, or 2005.
To fund the transaction and to refinance certain indebtedness of Mexx,
the Company intends to borrow approximately Euro 350 million from a third party
lender.
The Press Release (which is attached hereto as Exhibit 99.1) is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT DESCRIPTION
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99.1 Press Release of Liz Claiborne, Inc., dated May 16,
2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LIZ CLAIBORNE, INC.
Dated: May 16, 2001 By: /s/ Michael Scarpa
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Name: Michael Scarpa
Title: Chief Financial Officer
EXHIBIT INDEX
EXHIBIT DESCRIPTION
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99.1 Press Release of Liz Claiborne, Inc., dated May 16, 2001.