Kenneth Cole Moves to Take Company Private at $15.25/Share

Shares of Kenneth Cole KCP traded higher on Wednesday after it was announced that the founder of the company would be purchasing all outstanding shares for $15.25 per share in a move to take the company private. Despite the move, shares are trading at a discount to that price, hoovering right around $15.06. Traders who believe that the offer will go through could still see a slight gain on a move into the stock. Back in February, Cole had offered to buy the company at $15, an offer that was criticized as being too low. This stands in contrast to Michael Kors KORS, who took his namesake company public late last year. KORS has performed well since its IPO, currently trading near $38.50 after opening around $25 per share.