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Sun Capital has $544m offer for Kellwood rejected19/10/2007. Source: AltAssets. 
 Kellwood Company has rejected an offer from Sun Capital Securities Group, an affiliate of Boca Raton, Florida-based firm Sun Capital Partners. The $21 per share valued the American marketer of apparel and recreational camping products at $544m.
Kellwood said in a statement that its board of directors 'conducted a detailed review of the company's strategy for enhancing shareholder value. Their review included consultation with the company's independent financial advisor - Banc of America Securities. The board of directors concluded that the unsolicited Sun Capital proposal significantly undervalues the strength of Kellwood's expanded portfolio of brands and the company's opportunities for sales and earnings growth.'
Kellwood specialises in providing upmarket clothing and soft goods to the North American marketplace.
Sun Capital Partners is a private investment firm focused on leveraged buy-outs. The firm has approximately $10bn of equity capital under management.
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