Kenneth D. Cole announced Friday morning that he has proposed to acquire 100% of the outstanding publicly held shares of common stock of Kenneth Cole Productions (KCP: Quote) through a merger transaction. Public stockholders would receive $15.00 per share in cash for each share held.
Kenneth Cole Productions gapped open sharply higher Friday, but traded in a narrow range for the majority of the session. Shares finished up by 2.42 at $15.49 on the highest volume of the year. The stock jumped to a new high for the year.
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by RTT Staff Writer
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