Kellwood Company advised its shareholders to defer taking any action at this time in response to Sun Capital Securities Group, LLC's ("Sun Capital's") announcement that it has commenced an unsolicited tender offer for all the outstanding shares of Kellwood other than those shares which it already owns at a price of $21.00 per share in cash.
The Company's Board of Directors will review Sun Capital's offer and make a recommendation to shareholders in due course.
Kellwood noted that the offer received is for the same price as the unsolicited proposal the Company received from Sun Capital on September 18, 2007 and again on November 12, 2007.
As previously announced, Kellwood's Board of Directors determined that Sun Capital's unsolicited $21.00 proposal was not in the best long-term interests of Kellwood and its shareholders.
Banc of America Securities LLC is acting as financial advisor, and McDermott Will & Emery LLP is serving as legal counsel, to Kellwood.
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