Advertisement
YOU ARE HERE: LAT HomeCollectionsSales

IN BRIEF/RETAIL

Mossimo Founder Ends Bid to Take Firm Private

November 15, 2005|From Reuters

Mossimo Inc.'s founder, Mossimo Giannulli, said he had terminated an agreement to take the Santa Monica-based apparel designer private.

He said the deal was terminated after a special committee of Mossimo's board withdrew approval and recommendation of a tender offer that would have entitled shareholders to $5 a share.

The company agreed to Giannulli's offer in September and had set an Oct. 31 deadline to commence a tender offer, but this was extended after a rival bidder appeared.

The company's shares fell 20 cents to $4.95.

Advertisement
Los Angeles Times Articles
|
|
|