Shares of Lands’ End Inc (NASDAQ:LE) climbed 5.2% in premarket trading Thursday following the announcement that WHP Global is launching a cash tender offer for a stake in the apparel retailer.
LEWHP, LLC - identified in the filing as a wholly owned indirect subsidiary of WH Topco, L.P., doing business as WHP Global - began the tender offer on Wednesday. The bid seeks to acquire up to 2,222,222 shares of Lands’ End common stock at a price of $45.00 per share, paid in cash.
The tender is structured to pay $45.00 per share in cash, without interest and subject to any applicable tax withholdings. If shareholders submit more than the 2,222,222 shares being sought, the offer will be prorated and accepted shares will be purchased on a pro rata basis.
Under the terms disclosed in the Schedule TO filing dated February 26, 2026, WHP Global is expected to own approximately 7% of Lands’ End after the transaction completes. The tender offer’s documentation includes an offer to purchase, a letter of transmittal and other related materials outlining the terms and mechanics of the bid.
The tender offer is set to expire at one minute past 11:59 p.m., New York City time, on March 26, 2026, unless the offer is extended or earlier terminated. Shareholders must validly tender their shares on or before the expiration time in order to receive the stated offer price.
Importantly, the closing of the tender offer is conditioned upon the closing of a previously announced joint venture transaction between Lands’ End and WHP Global, as noted in the tender offer materials. That condition is a stated prerequisite to the completion of the purchase of tendered shares.
WHP Global, operating as a brand management firm, is increasing its stake in the retailer through this transaction. The full terms and conditions of the tender are described in the materials filed with the Schedule TO.
Context and next steps
Shareholders considering the tender must follow the procedures set out in the offer documents to tender validly by the expiration time. If the offer is oversubscribed, proration will determine the number of shares purchased from each tendering shareholder. The offer’s dependency on the joint venture closing means that completion of the purchase is not guaranteed until that condition is satisfied.