Calvin Klein parent to buy Tommy Hilfiger for $3B

NEW YORK - Two iconic American clothing labels - preppy Tommy Hilfiger and Calvin Klein, known for its modern aesthetic - are coming together under one roof.

Calvin Klein parent Phillips-Van Heusen said Monday it plans to purchase Tommy Hilfiger for about $3 billion in cash and stock.

The deal adds a prominent brand to Phillips-Van Heusen's stable, which also includes Izod and Arrow. It's expected to help Phillips-Van Heusen introduce
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