In a story thats had more twists and turns than a J.Lo engagement, the third party that had submitted an unsolicited proposal indicating an interest in pursuing a business combination with Mossimo Gianulli in the acquisition of Mossimo Inc. has decided to discontinue its discussions with Giannulli and the companys Special Committee. Giannulli and Mossimo Acquisition Corp. expect to commence the previously planned tender offer next week, with the goal of completing the transaction before the end of the year.
Most recently, RockView Management LLC, an institutional investor and beneficial shareholder of Mossimo, Inc. submitted a letter to the companys board of directors, which criticized both the board and Giannulli himself as considering proposals which “offer Company shareholders (other than Mr. Mossimo) inadequate value for their shares.”
