Kathie lee apparel maker ralph lauren outlet closes in on cheap ralph lauren polo kasper Kasper board is poised to recommend kellwood offer of roughly $140 million in cash, and an agreement could be signed as early as monday, people familiar with the discussions said.But, these people cautioned, the talks could still fall through.And kasper, which filed for chapter 11 bankruptcy protection in february, would need the blessing of the bankruptcy court overseeing its reorganization before any sale could be finalized, they said.Even once an agreement is reached, other suitors could still come forward with higher offers, the people involved in the discussions said.A management buyout group led by john d.Idol, kasper ceo, and parthenon capital, a private equity firm, made an offer for $80 million, which it later raised to $100 million.Other private equity firms are said to have taken a look at kasper independent of the buyout consortium, as has jones apparel group.Jones could soon be under pressure to do a deal.The company is at risk of losing three lines it licenses from polo ralph lauren the ralph, lauren and polo jeans labels, which total about $1 billion in annual sales.For kellwood, kasper would dovetail with its womenswear business, which accounts for about two thirds of its $2.2 billion in annual revenue.The company makes the kathie lee collection sold in wal mart and has the license for izod sportswear.Any buyer for kasper will be betting it can rejuvenate the anne klein name, which once symbolized classic sportswear but has since become dowdy.The task won be easy, analysts said.Klein was popular 25 years ago, said kurt barnard, president of barnard retail consulting group.Like an echo from the distant past.Idol, the former www.victan.co.uk ceo of donna karan who was hired to steer kasper out of its financial troubles, has already begun adding some glamour to the label with the kind of fashion shows normally reserved for bigger name designers.He would be unlikely to remain with the company if it is sold to an outside buyer, people familiar with the situation said.Donna weaver, a spokeswoman for kellwood, declined to comment on the company acquisition plans.Kasper shares have surged nearly four fold in the past week.They declined slightly today to $3.81, however, on speculation that the company would soon be sold.Kasper issued a press release monday saying it had been in discussions with several potential suitors but that there was no guarantee a sale would be completed.

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