FENTON, Mo., Dec. 3 /PRNewswire-FirstCall/ -- Rawlings Sporting Goods Company, Inc. (Nasdaq: RAWL) responded today to a proposal from its largest shareholder, Daniel Gilbert, to acquire Rawlings for $8 per share in cash, or possibly higher depending on the results of his due diligence review. Rawlings announced that it has invited Mr. Gilbert to execute an appropriate confidentiality agreement so that he can conduct his due diligence and determine whether a higher offer will be made. Rawlings is in the process of evaluating its strategic alternatives and no decision has been reached to sell the Company or pursue any particular alternative at this point. Commenting on Mr. Gilbert's proposal, Steve O'Hara, Chairman & CEO, noted, "We welcome Mr. Gilbert's interest in Rawlings. We will work with him to explore his interest in a higher offer as part of our analysis of strategic alternatives and fulfilling our fiduciary duties to shareholders." This press release contains forward-looking statements that involve risks and uncertainties such as the results of discussion with potential acquirors, Rawlings' plans to achieve certain cost savings and increases in earnings. There can be no assurance that any transaction will be consummated with any potential acquiror. Rawlings undertakes no obligation to make any further announcement regarding its consideration of strategic alternatives until a final agreement has been signed or a decision not to proceed with strategic alternatives is made. It is important to note that actual results could differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, a general economic slowdown, a major league baseball strike or lockout, lower retail sale rates for Rawlings' products, changes in Rawlings' financial position, a dramatic increase in the price of certain raw materials such as leather and changes in the competitive environment. Other risks and uncertainties are detailed from time to time in Rawlings' securities filings with the Securities and Exchange Commission, including Rawlings' report on Form 10-K filed for the year ended August 31, 2001. Any forward-looking statements speak only as of the date hereof and Rawlings disclaims any intent or obligation to update such statements. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X28555371
SOURCE Rawlings Sporting Goods Company, Inc.