NEW YORK, March 6, 2012 /PRNewswire/ -- As previously announced, on February 23, 2012, Kenneth Cole Productions, Inc. (NYSE: KCP) (the "Company") received a non-binding proposal from Kenneth Cole, Chairman and Chief Creative Officer of the Company and the holder of approximately 47% of the Company's outstanding common stock (representing approximately 89% of the voting power), to acquire all of the outstanding shares of the Company's Class A common stock that he does not currently directly or indirectly own for $15.00 per share in cash. In response, the special committee of independent directors established by the Company's board of directors delivered a letter to Mr. Cole requesting that he reconsider his position that he is unwilling to consider any alternative proposals. On March 2, 2012, Mr. Cole responded by letter that he did not intend to change his position.
Kenneth Cole Productions, Inc. Special Committee Announces Retention Of BofA Merrill Lynch As Financial Adviser
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