Kate Spade & Company (NYSE: KATE) share value continued to fall Tuesday morning as investors worry that Coach’s offer was lower than expected. The company was traded lower than fourteen percent as Kate Spade is still un-decisive on whether or not to accept the offer.
Anonymous sources told CNBC that the deal may value the company below its current trading price. “If they had gotten the bid they wanted, they wouldn’t be asking for more time,” Simeon Siegel, retail analyst at Nomura Instinet, told CNBC.
Kate Spade & Company operates principally under two global, multichannel lifestyle brands: kate spade new york and Jack Spade. The Company's four category pillars – women's, men's, children's and home – span demographics, genders and geographies. Known for crisp color, graphic prints and playful sophistication, kate spade new york aims to inspire a more interesting life.