Authentic Brands Group has offered to pay $70.1 million for men's suit maker HMX Group, according to court documents, Dow Jones DBR Small Cap reported today. HMX plans to hold an auction for its assets on Dec. 3, assuming it receives bids to challenge Authentic's. If Authentic is unsuccessful at auction, it will be entitled to a $2.2 million breakup fee and up to $700,000 in expense reimbursement.
