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Calvin Klein-owner to buy Tommy Hilfiger for $3bn

15 Mar 2010

Calvin Klein-owner Philips-Van Heusen (PVH) has agreed to buy Tommy Hilfiger for about $3bn.

PVH said it expects the transaction to be immediately accretive to earnings per share before one-time costs and accounting charges.

"I look forward to remaining actively involved in the business," said the company's founder and designer, Tommy Hilfiger.

"This is the next phase in the global evolution and expansion of the Tommy Hilfiger brand."

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