NetworkNewsBreaks – Naked Group (NASDAQ: NAKD) Shares Slide on Merger, Reorganization Agreement with Bendon Ltd.
Shares of Naked Group (NASDAQ: NAKD) slumped 11% this morning after the fashion and lifestyle brand announced its merger with Bendon Ltd., a privately held intimate apparel and swimwear company. Per the agreement, Naked Group and Bendon will become wholly owned subsidiaries of the newly formed Australian company, Bendon Group Holdings Ltd. (Holdco). Pending regulatory and shareholder approval, Holdco’s ordinary shares are expected to list on NASDAQ or NYSE by the end of October 2017. “This transformative merger will create a powerful portfolio of iconic innerwear, sleepwear, and swimwear brands. We believe this merger will enable the combined company to…







