#tender-offer

#tender-offer

Under the agreement, Lands' End contributes its intellectual property, including trademarks and existing license agreements, to a new 50/50 joint venture. WHP Global will pay $300 million in cash for a 50% controlling stake. Lands' End will then enter a long-term license agreement with the JV to operate its core direct-to-consumer and B2B businesses, with the license exclusive for core products and non-exclusive for other categories.