Bridgewater, N.J.-based PVH Corp. will acquire Warnaco Group Inc., producer of Calvin Klein underwear, for $2.9 billion, according to the Los Angeles Times. With the purchase, PVH plans to bring all of the Calvin Klein apparel lines under one roof to create a new clothing company. PVH also owns ready-to-wear brands, such as Arrow, Tommy Hilfiger, Van Heusen and Izod. The boards of both companies have approved the deal, but it is still awaiting regulatory approval and a majority vote from Warnaco shareholders.
