Mossimo Says Board to Review Giannulli Bid

Mossimo Inc. said its board formed a committee of independent directors to review a bid by founder and majority shareholder Mossimo Giannulli to take the company private.

Giannulli has offered to buy all of the outstanding publicly held common shares of Mossimo at $4 a share, the company said.

The bid by Giannulli, who owns about 65% of the Santa Monica company’s common stock, values Mossimo at about $63 million.