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Fossil finalises Skagen acquisition

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Fossil has now completed its acquisition of Danish watch brand Skagen.

The acquisition, which became effective on April 2, of Skagen and some of its international affiliates was made for US$231.7 million in cash, which includes a working capital adjustment of about US$6.7 million and 150,000 shares of Fossil common stock.

Skagen may also now receive up to 100,000 additional Fossil shares if net sales of Skagen watches exceed certain thresholds.

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