Kellwood Extends Early Tender Deadline for Debt Tender Offer Until After It Responds to Sun Capital's Unsolicited Two-Tiered Off
21 Enero 2008 - 1:09PM
PR Newswire (US)
ST. LOUIS, Jan. 21 /PRNewswire-FirstCall/ -- Kellwood Company
(NYSE:KWD) announced today that it is extending the early tender
deadline to 5:00 p.m., New York City time, on January 30, 2008 in
its cash tender offer for up to $60,000,000 aggregate principle
amount of its 7.875% debentures due 2009 identified in the Offer to
Purchase dated January 9, 2008. The Company is extending this date
given the unsolicited two-tiered tender offer made by an affiliate
of Sun Capital Securities Group ("Sun Capital"), which the Company
will respond to on January 29, 2008. When the Company responds to
Sun Capital's unsolicited two-tiered offer, it will also announce
further actions, if any, it intends to take with respect to the
debt tender offer. J.P. Morgan Securities Inc. acts as sole Dealer
Manager for the tender offer. Persons with questions regarding the
tender offer should contact J.P. Morgan Securities Inc. at (866)
834-4666 (toll-free) and (212) 834-3424 (collect). Requests for
documents may be directed to Global Bondholder Services
Corporation, the Information Agent for the offer, at (212) 430-3774
or (866) 470-3900. The foregoing is neither an offer to purchase
nor a solicitation of an offer to sell the Notes or any other
security. The tender offer is made only by an Offer to Purchase
dated January 9, 2008 and the related Letter of Transmittal. The
previous early tender deadline was 5:00 p.m., New York City time on
January 23, 2008. Please refer to the Offer to Purchase and related
materials for the terms of the offer. Statements in the press
release regarding the offering of registered debt securities shall
not constitute an offer to sell or a solicitation of an offer to
buy such securities. The tender offer is not being made to holders
of Notes in any jurisdiction in which the making or acceptance
thereof would not be in compliance with the securities, blue sky or
other laws of such jurisdiction. In any jurisdiction in which the
tender offer is required to be made by a licensed broker or dealer,
they shall be deemed to be made by the Dealer Manager on behalf of
Kellwood. About Kellwood Kellwood (NYSE:KWD) is a $1.6 billion
leading marketer of apparel and consumer soft goods. Specializing
in branded products, the Company markets to all channels of
distribution with products and brands tailored to each specific
channel. Kellwood brands include Vince(R), HOLLYWOULD(R), Phat
Farm(R), Baby Phat(R), Sag Harbor(R), Koret(R), Jax(R),
Democracy(R), Sangria(TM), Jolt(R), My Michelle(R), Briggs New
York(R), Hanna Andersson(R), Onesies(R), Kelty(R), Royal Robbins(R)
and Sierra Designs(R). Calvin Klein(R), XOXO(R), David Meister(R),
Gerber(R), and O Oscar, an Oscar de la Renta Company, are produced
under licensing agreements. For more information, visit
http://www.kellwood.com/. MEDIA CONTACT: Donna B. Weaver VP
Corporate Communications 212.329.8072 FINANCIAL CONTACT: Samuel W.
Duggan II VP Investor Relations and Treasurer Kellwood Company
314.576.8580 Joele Frank / Eric Brielmann / Jennifer Schaefer Joele
Frank, Wilkinson Brimmer Katcher 212.355.4449 Allison Malkin
Integrated Corporate Relations 203.682.8225 Statements in this
press release that are not strictly historical are
"forward-looking" statements within the meaning of the safe harbor
provisions of the federal securities laws. Actual results may
differ materially due to risks and uncertainties that are described
in the Company's Form 10-K and other filings with the SEC. SAFE
HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995 This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. The words "believe", "expect", "will", "estimate",
"project", "forecast", "planned", "should", "anticipate" and
similar expressions may identify forward-looking statements.
Although we believe that our expectations reflected in the
forward-looking statements are reasonable, we cannot and do not
give any assurance that such expectations will prove to be correct.
These forward-looking statements, which represent the Company's
expectations concerning future events, are based on various
assumptions and are subject to a number of risks and uncertainties.
These risks include, without limitation: intense competition in the
apparel industry on many fronts, including from our retail
customers' private label or exclusive brand programs; failing to
continually anticipate fashion trends and consumer tastes;
uncertainties regarding consumer confidence and spending patterns;
concentration of our customers; consolidation and change in the
retail industry; performance of our retail customers in selling our
goods; execution of the long-term corporate strategy; loss of key
personnel; continued value of owned and licensed brands; ability to
generate sufficient sales to offset the minimum royalty payments we
must pay with respect to licensed brands; inability to protect our
intellectual property rights; reliance on independent
manufacturers; ability to successfully complete the restructuring
plans; the continued movement in the global location of lowest cost
manufacturing sources; fluctuations in the price, availability and
quality of raw materials; availability of suitable acquisition
candidates; integration of completed acquisitions into our existing
business and the availability of reasonably priced debt. These
factors should be read in conjunction with the risk factors
included in our Annual Report to Stockholders on Form 10-K for 2006
(the fiscal year ended February 3, 2007) and subsequent periodic
filings. Actual results could differ materially from those
expressed or implied in forward-looking statements. The Company
disclaims any obligation to publicly update or revise any of its
forward-looking statement. DATASOURCE: Kellwood Company CONTACT:
Media, Donna B. Weaver, VP Corporate Communications,
+1-212-329-8072, , or Financial, Samuel W. Duggan II, VP Investor
Relations and Treasurer, +1-314-576-8580, , both of Kellwood
Company; or Joele Frank or Eric Brielmann or Jennifer Schaefer, all
of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, or
Allison Malkin of Integrated Corporate Relations, +1-203-682-8225,
all for Kellwood Company Web site: http://www.kellwood.com/
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