Apparel retailer Guess surges after WHP Global's take-private offer

Shares of apparel retailer Guess GES.N rise nearly 27% to $12.35 in early trading

WHP Global, which owns Toys "R" Us and fashion labels such as Anne Klein and Vera Wang, has proposed to acquire Guess for $13 per share in cash - GES

Offer price represents a 34% premium to stock's close on Friday

The brand management firm has offered to buy all outstanding shares of Guess, except those owned by its co-founders Paul Marciano and Maurice Marciano, and CEO Carlos Alberini

GES has formed a special committee to evaluate the proposal

There is no guarantee that any definitive offer will be made, that any agreement will be executed or the proposed transaction in the proposal or any other transaction will be approved or completed - GES

Guess shares stock down 9.6% YTD, including session moves; they fell nearly 34% in 2024