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VF Corp sees markets "stabilize"

Fri Jun 12, 2009 8:56am EDT

Reporter's Notebook

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He said the group had the financial firepower to do "a reasonably large" deal.

"By the end of the year ... we'll have $600 million in cash and $1.3 billion in accessed funds, so we'll be sitting on a $2 billion cheque book that's accessible for investment and acquisitions."

Wiseman said VF was particularly keen to expand its portfolio of brands in "outdoor, action sports and contemporary."

"We have a (potential acquisitions) list that we go through every four months," he added.

Shares in VF, which have lost 18 percent of their value over the last year, closed Thursday at $59.29, valuing the business at $6.56 billion.

(For summit blog: blogs.reuters.com/summits/)

(Editing by Jon Loades-Carter and Rupert Winchester)

 
 
 
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