Updated to include added analyst comments, M&A details and updated share prices.
NEW YORK (TheStreet) - It's not just Kenneth Cole shoppers that may be in a post-holiday bargain hunting mood.
Clothing designer Kenneth D. Cole may be looking to buy his namesake fashion company at an opportunistic price from existing shareholders with a $15 a share bid for Kenneth Cole Productions (KCP) on Friday.
Citing profitability and competitive challenges, Cole is offering to buy the company at a valuation of $280 million -- or roughly a 26% premium to the company's average stock price in the last 45 days -- but below a post-crisis September 2010 share price high of $16.50.The move comes at a time when mass-fashion mainstays like Kenneth Cole and Liz Claiborne (LIZ) struggle with post-crisis profitability and insurgents like Michael Kors (KORS), Lululemon (LULU) and DSW (DSW) report strong earnings.
|Kenneth Cole is looking to buy KCP for $15 a share.|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV