TEXAS MAN ARRESTED WITH 75 POUNDS OF MARIJUANA IN LUGGAGE WHILE FLYING TO LONDON, POLICE SAY. (PHOTO).

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 Texas man arrested with 75 pounds of marijuana in luggage while flying to London, police say A Texas man was arrested at Miami International Airport after authorities found 75 pounds of marijuana in his luggage before he could board a flight to London. Harrison O’Neill Tiernan, 23, from Austin, was charged with cannabis trafficking. He was traveling to Heathrow Airport and had checked two suitcases for his British Airways flight. Inspectors discovered 65 vacuum-sealed packages containing a green, leafy substance later confirmed to be marijuana. U.S. Customs and Border Protection officers stopped Tiernan while he attempted to board the flight, and he acknowledged that the bags were his. Authorities noted the inspections were part of broader efforts at the airport due to high outbound narcotics activity. In total, Tiernan was carrying 34.01 kilograms, or 74.98 pounds, of marijuana. Homeland Security initially declined the case because the amount did not meet the federal threshold, a...
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GUESS ANNOUNCED WEDNESDAY THAT IT WILL BE TAKEN PRIVATE IN A $1.4 BILLION DEAL INVOLVING ITS CO-FOUNDERS, CEO, AND AUTHENTIC BRANDS, THE COMPANY THAT OWNS REEBOK. (PHOTO).

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 Guess to be taken private in $1.4 billion transaction with Authentic Brands and company leadership

Guess announced Wednesday that it will be taken private in a $1.4 billion deal involving its co-founders, CEO, and Authentic Brands, the company that owns Reebok. 

The agreement includes the acquisition of 51% of Guess’ intellectual property by Authentic Brands, while existing shareholders will retain the remainder.

Shareholders will receive $16.75 per share in cash, a 26% premium over the stock’s previous close. Guess shares jumped nearly 26% in early trading following the announcement, after having lost roughly 38% over the past year amid economic uncertainty and stiff competition in the apparel market. The move aligns with broader consolidation in the industry, including Skechers going private, Dick’s Sporting Goods’ acquisition of Foot Locker, and Authentic Brands’ purchase of Dockers earlier this year.

The company said going private will allow it to pursue a longer-term strategy and navigate a challenging operating environment with greater flexibility. Before the deal, the co-founders and CEO owned roughly 40% of the company, with Paul Marciano holding 28%. Earlier this year, Guess had received a $13-per-share proposal from WHP Global, which was reviewed by a special committee. The committee determined that the deal with Authentic Brands and existing shareholders offered the best path forward.


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