WHP Global Acquires 50 Percent Lands' End IP

Brand manager WHP Global agreed to acquire a 50 percent stake in a joint venture holding Lands’ End intellectual property for $300 million, the companies said Monday. The cash will fully repay Lands’ End’s roughly $234 million term loan and fund corporate purposes, while WHP will lead global licensing and launch a separate tender offer up to $100 million at $45 per share.