Two bidders have stepped up to the plate for Rawlings Sporting Goods Co. Inc., but who will round home for the takeout of the $66 million market cap sporting goods manufacturer remained unclear. On Nov. 27, after the market closed, Fenton, Mo.-based Rawlings, known for its baseball gloves, announced the receipt of interest from a possible strategic bidder. The release said the unnamed party anticipated making a stock offer but, other than saying it would be at a premium to Rawlings’s stock price, did not provide a per-share value. The following trading day, Nov. 29, Rawlings’s stock rose as much as 24% to $7.90 a share, before closing at $7.57 per share.
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