Mossimo, Inc. has announced that it has received an unsolicited proposal from Cherokee Inc. to acquire all the outstanding shares of Mossimo, Inc. in cash and in Cherokee stock. Mossimo's board of directors will meet to evaluate the proposal, but a spokesman indicated that it is too early to determine whether the Cherokee letter constitutes a superior proposal as compared with the proposed merger of Mossimo with Iconix Brand Group, Inc. announced on April 3.

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