Rawlings shareholders voted yesterday to ask the BOD
"to revoke its `poison pill' plan, which makes it all but
impossible for anyone to make a run at buying the company
without the board's blessing," according to Al Stamborski of
the ST. LOUIS POST-DISPATCH. The shareholders' action
"should boost the chances" of GA-based Bull Run Corp. CEO
Robert Prather to buy Rawlings, which generated "only" $165M
in revenue last year. Prather, who tried to buy Rawlings
last year, is the largest individual investor in the company
with almost an 11% stake. If Rawlings' poison pill plan is
eliminated, Prather "would be unable to make another offer
until someone else does first." But Rawlings Chair & CEO
Steve O'Hara said yesterday that "no one else has expressed
an interest in the company," even though its "turnaround
plan is starting to show results," as second-quarter net
income was up more than 6%. Meanwhile, O'Hara added that
Rawlings "might get out of the hockey equipment business,"
as its purchase of Canada-based Vic two years ago "has not
produced the desired results" (POST-DISPATCH, 4/14).
