TowerBrook Capital Partners L.P. entered into a definitive merger agreement to acquire True Religion Apparel Inc. (NasdaqGS:TRLG) from Snow Capital Management, LP and other investors for approximately $820 million in cash on May 10, 2013. Under the terms of the merger agreement, TowerBrook will acquire all of the outstanding shares of True Religion common stock for $32.00 per share in cash. Deutsche Bank, Jefferies and its affiliates, UBS Investment Bank and Macquarie ... Capital have provided committed financing to TowerBrook in support of the transaction. The merger is subject to approval from True Religion's shareholders, regulatory approvals and other customary closing conditions and is expected to close in the third quarter of 2013. The Board of Directors of True Religion unanimously approved the merger agreement and recommends that True Religion shareholders vote in favor of the transaction. Guggenheim Securities, LLC acted as financial advisor and Greenberg Traurig, LLP acted as legal advisor to the Special Committee of the Board of True Religion. Akin Gump Strauss Hauer & Feld acted as legal advisor to True Religion. Deutsche Bank, Jefferies and UBS Investment Bank acted as financial advisors to TowerBrook, while Steven A. Cohen, Steven A. Cohen, Ante Vucic, Scott W. Golenbock, William T. Clayton, Damian G. Didden, Yuni Yan, Jeremy L. Goldstein, Rohit A. Nafday, Stephen G. Gellman, Dianna Chen, Joshua A. Feltman, Corinne C. Musa, Peter B. Zuckerman, Jodi J. Schwartz, and Rachel B. Reisberg of Wachtell, Lipton, Rosen & Katz acted as legal advisors to TowerBrook.
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