Movado Group Completes Acquisition of MVMT
Movado Group Inc. (MOV)
Last movado group inc. earnings: 3/26 06:45 am
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US:NYSE Investor Relations:
movadogroup.com/investor/index.cfm
Company Research
Source: Business Wire
PARAMUS, N.J.--(BUSINESS WIRE)-- Movado Group, Inc. (NYSE:MOV) (the “Company”) today announced that it has completed its previously announced acquisition of MVMT Watches Inc., the owner of MVMT (“MVMT”), a global aspirational lifestyle brand. The purchase price was comprised of an initial payment of approximately $100 million, or approximately $85 million net of tax benefits that are anticipated to be generated from the acquisition, subject to working capital and other closing adjustments, and two future contingent payments that combined could total up to an additional $100 million before tax benefits. The exact amount of the future payments will be determined by MVMT’s future financial performance with no minimum required future payment. The acquisition was funded through cash on hand, although the Company anticipates replenishing a portion of its cash through approximately $50 million of borrowings under its revolv
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News
- Movado Group, Inc. (NYSE:MOV) is a favorite amongst institutional investors who own 70% [Yahoo! Finance]Yahoo! Finance
- Don't Race Out To Buy Movado Group, Inc. (NYSE:MOV) Just Because It's Going Ex-Dividend [Yahoo! Finance]Yahoo! Finance
- Movado Group Announces Appointment of Debbie Forman-Pavan as President of North America Sales [Yahoo! Finance]Yahoo! Finance
- Movado Group Announces Appointment of Debbie Forman-Pavan as President of North America SalesBusiness Wire
- Movado Group, Inc. Just Beat EPS By 9.9%: Here's What Analysts Think Will Happen Next [Yahoo! Finance]Yahoo! Finance
MOV
Earnings
- 8/24/23 - Beat
MOV
Sec Filings
- 4/23/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- MOV's page on the SEC website