02.12.2008 12:30 pm
Sun Capital has 57 percent of Kellwood shares
St. Louis Post-Dispatch
Sun Capital Securities Group, which has offered to buy Kellwood Co. at $21 a share, said Tuesday that it now has at least 57 percent of the apparel marketer’s shares based on stock that was tendered Monday.
Town and Country-based Kellwood agreed on Monday to Sun Capital’s $542 million takeover offer. The deal requires that a majority of shares be sold to Sun Capital by 11 p.m. Central time tonight.
If the shares are not withdrawn prior to tonight’s deadline, Sun Capital will be able to close the offer.
Kellwood accepted the takeover offer after it received no higher bids. It had previously rejected the $21 per share deal as too low.
Gail writes about business, health and wine for the Post-Dispatch. She joined the P-D in 2005 after moving from NYC where she covered federal courts and wrote about food and wine. In her free time, Gail lifts weights, and of course, wine glasses. 
