Kellwood的投资者支持Sun公司对Kellwood的收购议案
据SportsOneSource报道，日前企图恶意收购美国服装业巨头Kellwood的幕后黑手终于浮出水面。这是一家私人证券投资公司试图通过对芝加哥一小型理财公司的幕后操纵收购Kellwood。Kellwood旗下拥有Sierra Dsigns，Kelty，Royal Robbins及其他多个知名户外品牌。
拥有Kellwood公司1.5%的股份的Discovery集团日前致信Kellwood董事会，表示支持Sun 证券公司的收购议案，即以每股21美元现金买进Kellwood所有对外流通股权。
当地时间1月15日，对于Sun公司当日再次提出的收购议案，Kellwood公司召开董事大会，建议股东们暂时不要采取任何行动，在董事会详细审查之后会给大家一个明确答复。Sun公司曾与2007年9月18日与11月12日先后两次向Kellwood提出收购议案，价格都是每股21美元，此次是第三次。同对待前两次提案一样，Kellwood董事会认为Sun的收购不利于Kellwood与广大股东的长远利益，予以坚决抵制。
以下为Discovery集团致Kellwood董事会的公开信：
各位董事：
目前Discovery集团拥有Kellwood 公司391,100股股票，即1.5%的股份。Discovery是一家专业理财公司，重点投资那些低市值的小型股。迄今为止我们已有多次在服装行业和零售领域成功的投资案例。我们公司与Kellwood合作数年，同时与Sun公司也相交甚久，所以我们恳请Kellwood站在广大的股东立场上考虑一下Sun公司的收购提案。Sun每股21美元的现金收购条件非常优厚，既有利于股东们的资金流动，同时也获得了相当可观的收益。我们坚信董事会会秉承对股东负责的原则，与Sun公司进行谈判，达成协议，从而为股东谋取最大利益。双方的协商交易要远比竞争性收购要好得多。
如果董事会不想友好交易，作为股东，Discovery将强烈要求董事会启动民主决策，召开全体股东大会，由股东们决定是接受Sun每股21美元的买入提案还是维持现状。
目前Discovery已计划将手中所持有的Kellwood股份转让给Cardinal Integrated公司（由SCSF和Sun公司组成）。
相关新闻：
当地时间1月8日，Kellwood董事会主席，董事长兼首席执行官Robert C. Skinner, Jr.对外宣布已成功将旗下男装业务部门香港新马集团及相关地产售出，毛现金收益总额约达1.61亿美元。香港新马集团以约1.21亿美元的价格卖与中国的雅戈尔集团，在香港的相关地产以近4100万美元的价格售与香港明宝发展有限公司。Kellwood 预计将使用这两宗交易的收益来回购股票和偿还债务。2008年1月3日，Kellwood宣布董事会已批准8000万美元的股票回购计划。
原文：Kellwood Investor Backs Hostile Bid
A small Chicago money management group has thrown its support behind a private equity firm's hostile bid for Kellwood Co., the owner of Sierra Dsigns, Kelty, Royal Robbins and other outdoor brands.
Discovery Group, LLC, a 1.5% shareholder in Kellwood Company, sent a letter to Kellwood's board of directors expressing support for Sun Capital's recently commenced tender offer to purchase all outstanding shares of Kellwood common stock for $21.00 per share in cash.
Kellwood Company (NYSE:KWD) today advised its shareholders to defer taking any action at this time in response to Sun Capital Securities Group, LLC's ("Sun Capital's") announcement that it has commenced an unsolicited tender offer for all the outstanding shares of Kellwood other than those shares which it already owns at a price of $21.00 per share in cash. The Company's Board of Directors will review Sun Capital's offer and make a recommendation to shareholders in due course.
Kellwood noted that the offer received today is for the same price as the unsolicited proposal the Company received from Sun Capital on September 18, 2007 and again on November 12, 2007. As previously announced, Kellwood's Board of Directors determined that Sun Capital's unsolicited $21.00 proposal was not in the best long-term interests of Kellwood and its shareholders.
The full text of the letter, sent Wednesday, follows:
Discovery Group is a beneficial shareholder of 391,100 shares of Kellwood stock, representing 1.5% of outstanding shares. Discovery Group is an institutional money manager with a focus on investing in undervalued small capitalization stocks. We have made multiple successful investments in the apparel and retailing sector and we have been familiar with Kellwood for several years. We are also familiar with Sun Capital Partners.
We are contacting the Board to notify you of our position with respect to the offer Kellwood has received from Sun Capital. Sun's offer of $21.00 per share provides immediate liquidity and a handsome premium to shareholders at a fair valuation for the Company. We strongly believe that the Board must negotiate in good faith with Sun in order to strike the best possible transaction for all shareholders. A negotiated transaction with Board approval will be more expeditious and productive than a contested takeover.
Should the board decide not to structure a friendly transaction, we as shareholders feel strongly that the Board must rescind its poison pill and any other defense mechanisms. By doing so, the Board will allow shareholders to decide for themselves whether to accept Sun's $21.00 or to maintain the status quo.
Related news:
We are contacting the Board to notify you of our position with respect to the offer Kellwood has received from Sun Capital. Sun's offer of $21.00 per share provides immediate liquidity and a handsome premium to shareholders at a fair valuation for the Company. We strongly believe that the Board must negotiate in good faith with Sun in order to strike the best possible transaction for all shareholders. A negotiated transaction with Board approval will be more expeditious and productive than a contested takeover.
Should the board decide not to structure a friendly transaction, we as shareholders feel strongly that the Board must rescind its poison pill and any other defense mechanisms. By doing so, the Board will allow shareholders to decide for themselves whether to accept Sun's $21.00 or to maintain the status quo.
