Rawlings Sporting Goods Co. Inc.’s largest shareholder increased his stake and expressed dissatisfaction with management’s capabilities and lack of response to his concerns. But, he said in an interview last Monday with Mergers & Acquisitions Report, that does not mean he has M&A on his mind-at the moment. On Aug. 1, Daniel Gilbert filed a 13D on his now 13.4% stake in the $45 million market cap sports equipment supplier. In the filing, he writes, “management has shown no willingness to be responsive to increasing stockholder frustration with the direction taken by Rawlings’ management . . . [and] the reporting person believes Rawlings continues to drift.”
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