Van Heusen to buy CK

Phillips-Van Heusen says it is buying Calvin Klein Inc in a cash and shares deal worth more than $430m (€418m).

The value of the transaction includes $400m (€390m) in cash, about $30m (€29.2m) in PVH stock as well as warrants and an ongoing financial incentive for Mr Klein based on future sales of the Calvin Klein brand.