St. John Knits Bid
St. John Knits Inc. said the company’s founders have extended by another day the deadline for their bid to buy the upscale clothier. The extension through today is the fourth since Chief Executive Robert E. Gray, his family and Vestar Capital Partners offered in December to buy the company’s shares not already owned by the Grays for $28 a share, or $490 million.
The Irvine company created an independent committee to evaluate the offer, which some investors and analysts have said is too low.
The most recent deadline was set to expire Monday. But late Sunday night, it was extended through today. The stock closed Monday at $26.56, up 6 cents a share.
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