Lands' End shares rise on joint venture announcement

Shares of casualwear chain Lands' End Inc LE.O rise 20.93% to $16.99 premarket

Co and WHP Global form joint venture to unlock the value of Lands’ End’s intellectual property

LE will receive $300 million of gross cash proceeds, deal enables full repayment of its term loan

WHP Global to pay co in cash for 50% controlling ownership stake in joint venture

WHP Global will commence tender offer for up to $100 million of Lands’ End shares at $45 per share

Under agreement, LE will continue operating existing business using contributed intellectual property in exchange for royalty payments

Stock rose 10.5% in 2025