Reuters – Lululemon Athletica Inc founder Dennis Wilson’s advisers have been talking to private equity firms including Leonard Green & Partners to find out if they are interested in buying the fashionable yoga gear maker, the Wall Street Journal reported citing people familiar with the matter.
The buyout would face trouble given the premium that would be needed over the company’s $6 billion market capitalization, the report said, adding that there is no deal in the works.(on.wsj.com/1mVcnJY)
The Wall Street Journal had reported on June 22 that Wilson was building a team of advisers that would likely include Goldman Sachs and could launch a proxy fight or team up with a private equity firm in a buyout.
The company was not available to comment outside regular business hours.
Wilson had earlier expressed his displeasure at the company’s annual meeting held in June about the strategic direction set by the board and had cast his vote against the new chairman and another director.
(Reporting by Anjali Rao Koppala; Editing by Lisa Shumaker)