Home / Knowledge / News / Apparel/Garments / Kellwood intends to rescind its debt tender offer
Kellwood intends to rescind its debt tender offer
Jan '08
Kellwood Company announced that it intends to remove all impediments to the $21.00 per share cash tender offer made by an affiliate of Sun Capital Securities Group so that it can be consummated on February 12, 2008 if a majority of the shares are tendered. Sun Capital's $21.00 per share cash tender offer, under its terms, is not subject to financing or due diligence.

Prior to the expiration of Sun Capital's tender offer on February 12, 2008, Kellwood intends to rescind its debt tender offer, give the requisite approvals under Delaware law and its charter, and take action under its Shareholder Rights Plan, so that Sun Capital's $21.00 per share cash tender offer can be consummated on February 12, 2008 if a majority of the shares are tendered.

Kellwood's Board of Directors is not taking any position on whether or not stockholders should tender their shares into the offer. Stockholders may now make their own decision on whether to tender their shares.

If a majority of shares, including Sun Capital's existing holdings, are tendered on February 12, 2008, Kellwood believes that all conditions to the tender offer will have been satisfied, and Sun Capital will be obligated to close the tender.

Kellwood's Board of Directors also stated that its financial advisors, Banc of America Securities LLC and Morgan Stanley & Co. Incorporated, will approach third parties who have previously contacted the Company, and other third parties, including Sun Capital, to seek an alternative transaction with a value above $21.00 per share.

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search