US: Kenneth Cole board appoints buyout advisor
Kenneth Cole Productions has appointed BofA Merrill Lynch as an advisor to assist it in evaluating a bid made by founder Kenneth Cole to take the company private.
Last week, Cole offered to buy the 53% stake in the company that he doesn't already own for US$15 per share in cash.
In a letter to the board, Cole said he is not interested in a sale of his stake in the company and, with 89% of the voting power, would be unlikely to vote in favour of any alternative sale, merger or similar transaction involving the company.
The committee formed by the company to assess the offer said it delivered a letter to Cole asking him to consider any alternative proposals. Cole responded that he did not intend to change his position.
BofA Merril Lynch will assess the offer and, if the special committee deems it appropriate, will assist it in considering any alternative transactions.
G-III Apparel Group has acquired men's luxury swimwear and resort-wear brand Vilebrequin from Fashion Fund One. ...
New York designer Kenneth Cole Productions has swung to a second-quarter net loss on the back of lower sales and one-off costs....
Kenneth Cole Productions is set to be taken private by founder Kenneth Cole after the company's board approved a US$15.25 per share offer yesterday (6 June)....
Brooks Brothers and Reliance Brands have announced the formation of a joint venture in India. ...
- Why fast fashion isn't a case of one size fits all
- Sir Philip Green blamed for the collapse of BHS
- Brexit blow to global apparel industry confidence
- TPP tariff phase-out guides Vietnam sourcing plans
- Why Inditex is "clear winner" in fast fashion
- VF Corp cuts guidance as Q2 profit plunges 70%
- Vietnam mulls wage freeze to boost competitiveness
- US Q2 in brief - Carter's, Wolverine Worldwide
- Teijin launches polyester hook-and-loop fastener
- Ethiopia opens flagship textile and apparel park
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Southeast Asia & Central America strategic sourcing reviews package deal
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis