Welcome
On January 15, 2008, Sun Capital Securities Group, LLC commenced a tender offer to purchase all of the outstanding shares of Kellwood Company (NYSE: KWD) common stock for $21.00 per share in cash. The offer represents a 38% premium to Kellwood’s closing price on September 18, 2007, the last trading day before Sun Capital’s public disclosure of its acquisition proposal to Kellwood’s Board of Directors.
Kellwood’s continued unwillingness to enter into a constructive dialogue with us regarding our interest in acquiring control of Kellwood has left us no choice but to take our proposal directly to its shareholders. We firmly believe our cash tender offer, which is not contingent on financing or due diligence, presents Kellwood shareholders with a very attractive value proposition given the sizeable premium and the value certainty it provides. Taking into account the substantial value impairment suffered in recent years and the considerable risk associated with Kellwood’s ability to execute its latest strategic plan, we are confident that shareholders will recognize the compelling value of our offer.
We believe Kellwood’s stockholders should be allowed to have a say in how best to maximize value and choose for themselves between our offer, which delivers substantial, immediate and certain value, and Kellwood’s highly speculative five-year plan being pushed by management with a well-established track record of missing expectations.
This $21.00 offer assumes Kellwood terminates its $60 million tender offer for the 7.875% Senior Notes due in July 2009, announced on January 9, 2008. If Kellwood does not terminate this offer, Sun Capital intends to reduce its offer price to $19.50 per share to reflect the corresponding reduction in equity value that results from the tender offer.
We encourage you to read all of the materials on this website and continue to visit often as it will be updated frequently. We thank you for your support.