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RETAILING & APPAREL

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Times Staff and Wire Reports

Family to Buy $4.4 Billion in Levi Strauss Stock: The family behind Levi Strauss Associates Inc. plans to buy up to a third of its stock at $250 a share in a restructuring that values the privately held jeans maker at $13.2 billion, about twice its annual revenue. Under the plan, Haas family members who already own 94% of Levi stock would form a new company that would buy up to $4.4 billion worth of shares and then merge with the existing company. By creating a large demand for stock, the plan gives individual family members a chance to liquidate holdings while increasing the family’s interest. The plan would also let San Francisco-based Levi keep some earnings now paid out as dividends. Levi declined to provide further details until it submits the plan to the Securities and Exchange Commission later this month.

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