In response to the unsolicted takeover bid by an affiliate of Sun Capital Securities Group, Kellwood Co. is extending the deadline of its cash tender offer of up to $60 million in notes from Jan. 23 to Jan. 30.
The company's cash tender offer of up to $60 million of the amount of its 7.875 percent senior notes due in July 2009 was originally announced on Jan. 9. The previous early tender deadline was 5:00 p.m., EST, Jan. 23.
Kellwood said it is extending the date given the unsolicited takeover offer made by Sun Capital affiliate Cardinal Integrated LLC on Jan. 15. Kellwood said the company will respond on Jan 29 to Cardinal Integrated's bid and said it will announce further actions, if any, it intends to take with respect to the debt tender offer. Through its American Recreation Products subsidiary, Kellwood owns Sierra Designs, Kelty, Royal Robbins and other outdoor brands.
