Farley Selling Three Units: Farley Inc. agreed...

Farley Selling Three Units: Farley Inc. agreed to sell three of its Cluett, Peabody divisions to the U.S. unit of Bidermann Group, a Paris-based fashion and apparel firm, for $600 million. Farley will use the proceeds to reduce the debt it incurred when it bought West Point-Pepperell earlier this year for $3 billion. Farley has for months been expected to sell Cluett, which makes Arrow shirts, Gold Toe socks and Schoeneman suits, but the price is lower than the reported $800 million it was asking.