Kellwood Rejects SunCap's Offer
The board of directors of St. Louis–based manufacturer Kellwood Co. rejected an unsolicited proposal from Capital Securities Group LLC to purchase Kellwood for $21 per share. The board, on the advice of independent financial advisor Banc of America Securities LLC, determined that the offer “significantly undervalues the strength of Kellwood’s expanded portfolio of brands and the company’s opportunities for sales and earnings growth.”
