By AP/KWMU
St. Louis, MO – A major stockholder in the St. Louis sporting goods company Rawlings has sold almost a million shares.
A recent regulatory filing shows Daniel Gilbert got more than $7 million in the sale. He went from owning 15% of Rawlings to just over 3%.
There's no explanation stated for the sale. Gilbert wanted to buy Rawlings last year before the company agreed to be bought by California-based K2, Inc.
Gilbert still holds 270-thousand shares in Rawlings, based in the St. Louis suburb of Fenton.