Farley Inc. said it has not decided...

Farley Inc. said it has not decided whether to wage a proxy contest in its bid for fellow textiles company West Point-Pepperell Inc. and remains hopeful a deal can be concluded on a friendly basis. The Chicago-based diversified company that makes Fruit of the Loom underwear offered $48 a share, or $1.3 billion, for Pepperell. Farley already owns 9.8% of the West Point, Ga.-based sheet and towel maker. Farley said it filed preliminary materials with the SEC relating to solicitation of calls for a special meeting of West Point-Pepperell shareholders.