Kenneth Cole finalizes acquisition of eponymous labelWednesday, 26 September 2012
American Designer Kenneth Cole has finalized the acquisition
of his eponymous label, Kenneth Cole Productions, Inc. As per the merger agreement, the company's shareholders, excluding Cole and his affiliated entities, will receive 15.25 dollars per share in cash.
Kenneth Cole Productions, Inc.said Tuesday that it has completed its acquisition pursuant to the merger agreement under which Kenneth Cole, Chairman and Chief Creative Officer of the Company and beneficial holder of about 46 percent of the company's outstanding common stock, has acquired the Company through KCP Holdco, Inc., an entity he controls that was formed for the purpose of the acquisition. br/>
The deal was approved by the company's stockholders at a special meeting of shareholders held on September 24, 2012. The merger was approved by about 98 percent of the shareholders of the Company's outstanding common stock, and by holders of about 80 percent of the shares not owned by Cole or his affiliated entities.
Its common stock will be delisted from the New York Stock Exchange.