Sun Capital Says Latest Tender Count Indicates Offer for Kellwood Will Be Successful
February 12 2008 - 8:26AM
Business Wire
Sun Capital Securities Group, LLC today announced that, as of 5:00
p.m. yesterday, 10,118,845 shares of Kellwood Company (NYSE: KWD)
have been tendered into Cardinal Integrated, LLC�s $21.00 per share
cash tender offer for Kellwood and not withdrawn. This number of
shares, when added to Sun Capital�s existing 11.4% stake,
represents approximately 57% of Kellwood�s total outstanding
shares. If the tendered shares are not withdrawn prior to
expiration of the offer tonight at 12:00 midnight New York City
time, Sun Capital would hold a majority of Kellwood�s outstanding
common shares, which would allow it to close the tender offer and
promptly pay for all tendered shares. Shareholders who do not
tender their shares in the offer will not receive payment until the
merger has been completed, which could take several months.
Shareholders with questions regarding tendering their shares should
log on to www.kellwoodvalue.com or call D. F. King & Co., Inc.
at (800) 269-6427. About Sun Capital Sun Capital Partners, Inc. is
a leading private investment firm focused on leveraged buyouts,
equity, debt, and other investments in market-leading companies
that can benefit from its in-house operating professionals and
experience. Sun Capital affiliates have invested in and managed
more than 180 companies worldwide with combined sales in excess of
$35.0 billion since Sun Capital's inception in 1995. Sun Capital
has offices in Boca Raton, Los Angeles, and New York, and
affiliates with offices in London, Tokyo, and Shenzhen. Additional
Information and Where to Find It This press release is provided for
informational purposes only and is neither an offer to purchase nor
a solicitation of an offer to sell any securities of Kellwood. The
offer to purchase or solicitation of offers to sell is being made
pursuant to a Tender Offer Statement on Schedule TO (including the
Offer to Purchase, Letter of Transmittal and other related offer
documents) filed by Cardinal Integrated, LLC with the SEC on
January 15, 2008. Before making any decision with respect to the
offer, Kellwood stockholders are advised to read these documents,
as they may be amended from time to time, and any other documents
relating to the tender offer that are filed with the SEC carefully
and in their entirety because they contain important information,
including the terms and conditions of the offer. Kellwood
stockholders may obtain copies of these documents for free at the
SEC�s website at www.sec.gov, or by calling D.F. King & Co.,
Inc., the Information Agent for the offer, at (800) 269-6427.
Purchase and other tender offer documents will also be available at
http://www.KellwoodValue.com. This press release and the Offer to
Purchase do not constitute a solicitation of a proxy for or with
respect to any annual or special meeting of Kellwood�s
stockholders. Any such solicitation will be made only pursuant to
separate proxy solicitation materials complying with all applicable
requirements of Section 14(a) of the Securities Exchange Act of
1934, as amended. Cautionary Statement Regarding Forward-Looking
Statements This press release contains forward-looking statements.
All statements contained in this press release that are not clearly
historical in nature or that necessarily depend on future events
are forward-looking, and the words �anticipate,� �believe,�
�expect,� �estimate,� �plan,� and similar expressions are generally
intended to identify forward-looking statements. These statements
are based on current expectations of Sun Capital Partners, Inc. and
its affiliates and currently available information. They are not
guarantees of future performance, involve certain risks and
uncertainties that are difficult to predict and are based upon
assumptions as to future events that may not prove to be accurate.
Sun Capital does not assume any obligation to update any
forward-looking statements contained in this press release.
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