True Religion to be taken private by TowerBrook at $32 per share True Religion announced it has entered into a definitive merger agreement with an affiliate of funds managed by TowerBrook Capital Partners in a take-private transaction valued at approximately $835M. Under the terms of the merger agreement, TowerBrook will acquire all of the outstanding shares of True Religion common stock for $32.00 per share in cash. The merger is subject to approval from stockholders. The transaction is expected to close in Q3. Pursuant to the merger agreement, True Religion has suspended its regular quarterly dividend.