Sun Capital Securities Group completed its $21-per-share tender offer of outstanding shares of Kellwood Co. stock, and now has a 93.7 percent stake in the Town and Country apparel manufacturer. The offer is part of a $542 million acquisition of Kellwood by Sun Capital, an affiliate of Sun Capital Partners, a Boca Raton, Fla.-based private investment firm.
After the acquisition is consummated, Kellwood will become a subsidiary of Sun Capital’s Cardinal Integrated LLC and will no longer be publicly traded faxless payday loans. Holders of the remaining shares not already owned by Sun Capital will be eligible to receive $21 for each share.
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