Steven Madden Ltd, a leading designer and marketer of fashion footwear and accessories for women, men and children announced that it has received inquiries from third parties with respect to an acquisition of the Company and shareholder communications urging that the Company explore alternatives to enhance shareholder value.
The Board of Directors has determined to evaluate strategic alternatives available to the Company and, to this end, has formed a Strategic Review Committee of the Board comprised of three independent directors, Peter Migliorini, Richard P. Randall and Walter Yetnikoff, with Mr. Yetnikoff serving as Chairman.
The Committee has been charged, among other things, with the responsibility for evaluating any potential transaction, with any transaction recommended by the Committee to be considered by the full Board of Directors.
The Strategic Review Committee has retained Peter J. Solomon & Company, which has previously provided consulting services to the Company, as its financial advisor, and Weil, Gotshal & Manges LLP as its independent legal counsel.
There can be no assurance that this process will result in any changes to the Company's current plans. The Company does not expect to disclose further developments regarding the process until the review of strategic alternatives has been completed.
Steven Madden Ltd
Steven Madden announces strategic review
