Swiss Army Brands, Inc. has announced that Victorinox AG has made a proposal to the directors of Swiss Army Brands to acquire all of the outstanding shares of common stock of Swiss Army Brands not held by Victorinox and its affiliates for a cash price of $9.00 per share. Currently, Victorinox owns 67 percent of Swiss Army's stock, which trades on the SABI ticker. The board of directors of Swiss Army Brands is considering the proposal. Victorinox is a privately held Swiss company founded in 1914 and is the largest producer of Original Swiss Army knives. Swiss Army Brands is the North American marketer of Victorinox knives and tools. Swiss Army Brands also makes luggage and apparel and opened a retail location in SoHo, New York.
Did you hear?... Susanne Rechner nominated to be president of Swiss Army brands
Susanne Rechner has been nominated to become president of Swiss Army brands, to be effective when the tender offer for all the shares of Swiss Army Brands Inc. not already owned by Victorinox is accepted. Rechner is currently senior vice president-Global Watch for the company. ...read more