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November 16, 2009

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Firm weighs buyout offers

Wednesday, Dec. 4, 2002 | 9:50 a.m.

ST. LOUIS -- A storied name in the baseball world is mulling offers for its possible sale.

Rawlings Sporting Goods Co. said Tuesday it welcomed a bid by its largest shareholder to buy the company for about $65 million in cash. Daniel Gilbert offered to buy the roughly 85 percent of Rawlings he doesn't own for $8 per share.

Gilbert said he is pursuing the company, despite having no information about a rival bidder who Rawlings said last week proposed a stock-for-stock deal for the company, which specializes in leather baseball gloves, baseball and uniforms. Rawlings has not identified that bidder or the offer's size.

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