Kellwood's (KWD) Board to Let Stockholders Decide on Sun Capital $21 Per Share Cash Tender Offer

January 28, 2008 8:17 AM EST

Kellwood Company (NYSE: KWD) today announced that it intends to remove all impediments to the $21.00 per share cash tender offer made by an affiliate of Sun Capital Securities Group ("Sun Capital") so that it can be consummated on February 12, 2008 if a majority of the shares are tendered. Sun Capital's $21.00 per share cash tender offer, under its terms, is not subject to financing or due diligence.

Prior to the expiration of Sun Capital's tender offer on February 12, 2008, Kellwood intends to rescind its debt tender offer, give the requisite approvals under Delaware law and its charter, and take action under its Shareholder Rights Plan, so that Sun Capital's $21.00 per share cash tender offer can be consummated on February 12, 2008 if a majority of the shares are tendered.

Kellwood is a $1.6 billion leading marketer of apparel and consumer soft goods.

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