Perry Ellis International Inc (PERY.O) said it agreed to acquire privately held Rafaella Apparel Group for about $70 million to strengthen its presence in the women's apparel market.The company will also issue warrants to purchase 106,564 common shares.Perry Ellis, which had been scouting for a womenswear brand for some time now, will finance the deal through its senior credit facility and cash on hand.On closing, the acquisition is expected to add about 40 cents to Perry's 2011 earnings per share.  Read more on Reuters



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