BUZZ-Lands' End shares rise on joint venture announcement

Reuters
01/26
BUZZ-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

(Reporting by Megha Anilkumar Nair)

((MeghaAnilkumar.Nair@thomsonreuters.com;))

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