omposite Index climbed 1.2 percent to 2,439,http://cncar.com/bbs/viewthread.php?tid=3203567&extra=.63, its highest close in more than 3 months. The smaller Shenzhen Composite Index gained 1.4 percent to 972.62. Shares in real estate, cement and coal minters led the advance. One growing concern is the price of oil,http://www.ljnyw.com/bbs/forum.php?mod=viewthread&tid=1409530, which has been driven higher by tensions over Iran and the weakening dollar kept Asian markets in check because of worries it could crimp the U.S. economic recovery. Benchmark crude for April delivery was up 66 cents to $108.49 in electronic trading on the New York Mercantile Exchange. ___ Kelvin Chan in Hong Kong contributed to this report. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download.
NEW YORK (AP) Fashion designer Kenneth Cole is offering to pay about $148.5 million to buy the rest of Kenneth Cole Productions Inc., saying it would compete more effectively as a privately-held company. But it appears investors want more than he is offering. Cole, who serves as chairman and chief creative officer, currently holds about 47 percent of the stock and approximately 89 percent of its voting power. The offer disclosed Friday would give stockholders $15 per share in cash,toms sale, a 15 percent premium to the company's Thursday closing price. The deal values the whole company at $280 million. The company's stock was trading above that price in morning trading, rising $2.55, or 19,cheapest toms shoes,http://www.gzmaya.net/bbs/forum.php?mod=viewthread&tid=1215007.5 percent, to $15.62 per share. Earlier in the session, the shares reached a new 52-week high of $16. Cole said in a letter to the company's board that market challenges have created an increasingly competitive environment and that it is now important to take on a more entrepreneurial perspective to help develop the company's products, brands and business with a long-term approach. "I believe it is increasingly difficult to develop this type of culture in a public company context,cheap toms, where the public markets are increasingly focused on short-term results. I am convinced that private ownership is in the best interests of the business and the organization and that this proposal is in the best interests of the shareholders," he said. The proposed deal is subject to the approval of the majority of shares not owned by Cole. Cole said that he won't move forward with the transaction unless it's approved by a special committee of independent directors. The special committee will include all directors except Kenneth Cole and CEO Paul Blum, the company said. Cole said he has no interest in selling his stake in the business and would not vote in favor of an alternative sale or similar transaction. The company's board said if it deemed it appropriate, it would solicit and consider any alternative transactions. Cole expects to raise funds for the buyout partly through committed financing from third-pa