RockView Management Criticizes Mossimo Offer as Inadequate
November 09 2005 - 3:29PM
PR Newswire (US)
NEW YORK, Nov. 9 /PRNewswire/ -- RockView Management LLC, an
institutional investor and beneficial shareholder of Mossimo, Inc.,
(NASDAQ:MOSS), today sent the following letter to the Company's
Board of Directors in response to the Company's press release
announcing that discussions with an independent third-party
concerning a potential acquisition of the Company had been
terminated: Gentlemen: We are dismayed by today's announcement in
which the Company advised that discussions with an independent
third-party concerning a potential acquisition, at what was
reported to be a premium to Mossimo Giannulli's previously
announced tender offer, had been terminated. On numerous occasions
since Mr. Mossimo announced his intent to commence a tender offer
-- initially at $4.00 per share and most recently at $5.00 per
share -- RockView has made good faith attempts to contact senior
management and members of the Board of Directors to discuss Mr.
Mossimo's proposals which we believed, and still believe, offers
Company shareholders (other than Mr. Mossimo) inadequate value for
their shares. Recent overtures from an independent third-party
confirms our belief. We urge the Board members to be mindful of
their duties to obtain the highest value for all Company
shareholders in connection with any sale of the Company or other
offer to purchase shares. Regards, RockView Management LLC 900
Third Avenue 11th Floor New York, New York 10022 DATASOURCE:
RockView Management LLC CONTACT: RockView Management LLC,
+1-212-821-8700
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