Kellwood Comany rejects Sun Capital bid
Kellwood Company (NYSE: KWD), a marketer of apparel and consumer soft goods, rejected a takeover bid from Sun Capital Securities Group.
Sun Capital originally made a bid to acquire Kellwood at $21 per share, or $543.9 in aggregate. The small cap said it concluded that “after careful consideration … and taking into account the potential benefits that may be realized through the company's previously announced long-term strategic plan” selling the company was not in the best interest of the shareholders.
Shares of Kellwood (KWD) were halted ahead of the opening.
