Kenneth Cole's $160M Go-Private Deal Sound, Judge Rules

Law360, New York (September 5, 2013, 3:33 PM EDT) -- Fashion designer Kenneth Cole didn't need to cave in to minority shareholders' demands that he pursue other bidders when he took his eponymous company private for $160 million, a New York state judge ruled Thursday, saying that independence was the very point of having a controlling stake.

Judge Lawrence K. Marks said that Cole, the controlling shareholder of Kenneth Cole Productions Inc., had no obligation to subvert his own economic interest to get a low price in favor of minority shareholders' demands that he get a...
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