VF Acquires Timberland

VF Corp. is acquiring footwear and apparel company Timberland Co. for $43 per share in a deal worth about $2 billion. The acquisition is expected to close in the third quarter and should add approximately $700 million to VF’s 2011 revenues. It is also expected to add to VF's earnings per share by $0.25 in 2011 and by $0.75 in 2012. Excluding these expenses, EPS accretion would be approximately $.45 in 2011 and $.90 in 2012. Timberland will become part of VF’s Outdoor & Action Sports coalition and will remain headquartered in Stratham, New Hampshire.