Lead Phillips-Van Heusen Investor Blue Harbour Group Issues Statement

GREENWICH, Conn., March 15 /PRNewswire/ -- In response to media inquiries following Phillips-Van Heusen's (NYSE: PVH) announced agreement to acquire Tommy Hilfiger, private investment firm Blue Harbour Group issued the following statement:

"Blue Harbour is very supportive of Phillips-Van Heusen's management team and the strategic merits of the Tommy Hilfiger acquisition announced today," said Blue Harbour CEO Clifton S. Robbins.  "This transaction opens global opportunities and is highly accretive to shareholders.  We have been a lead shareholder in Phillips-Van Heusen for two years and know the company's management to be both creative in building shareholder value and skilled in integrating acquisitions."

Blue Harbour owns 1.5 million Phillips-Van Heusen shares.

Blue Harbour Group was formed in 2004 to pursue a private equity approach to public markets by acting as a lead minority investor, working cooperatively with managements and boards to create and unlock shareholder value.

SOURCE Blue Harbour Group