She’s baaack.
Warnaco’s Linda Wachner has upped her bid for Calvin Klein to $850 million and is back in the running, sources told The Post.
Wachner declined to comment.
But her latest offer fills the void left by Tommy Hilfiger. (Her first was rejected as too low.)
Hilfiger dropped out of the race last week, concluding that the $1 billion Calvin was demanding was too high.
Wachner’s latest offer apparently helped drive Tommy out of the bidding process.
So did her lock on the Calvin Klein jeans license, which sources say he wanted for himself.
Analysts and investment bankers say that the jeans license, which Wachner owns, is the most lucrative part of Calvin Klein’s empire.
That makes it appealing to any potential buyer of the company — but especially Tommy, who is trying to jump-start his revenues and win back the affections of Wall Street.
Wachner’s latest offer is far from set in stone. Sources said that while she had expressed interest, she had not yet done due diligence — a sometimes months-long process of pouring through a company’s financial records before an official bid is made for it.
It’s not clear who else is interested in Calvin Klein Inc. at this point besides Wachner — or who would want it without the jeans license.
Italian publishing conglomerate HdP has also considered and backed away from the fashion company.
LVMH’s Bernard Arnault has seen Calvin’s financial records, but is apparently not interested.
Liz Claiborne’s Paul Charron has the financial muscle, but has steadfastly refused to comment about his intentions.
And former Calvin Klein executive Gabriella Forte, who was rumored to be considering a run for the company, has also been silent.
Calvin Klein and his Chief Executive Barry Schwartz have said from the beginning they would not sell if they didn’t get their price, and that possibility still exists.