SPAC Buys T-Shirt Maker

Endeavor Acquisition Corp. (AMEX: EDA) has agreed to acquire t-shirt wholesaler American Apparel for around $354 million (including assumed debt). Endeavor is a SPAC whose management team includes: Eric Watson, also chairman of Cullen Investments Ltd.; President Jonathan Ledecky, founder of U.S. Office Products; Director Edward Matthias, a partner and managing director of The Carlyle Group.