NEW YORK (Reuters) - Private equity fund Sun Capital Partners is considering a renewed bid to take over clothing brand company Kellwood Co. <KWD.N> with a hostile conditional tender offer, The New York Post reported on Thursday.

Kellwood, which owns fashion labels like Phat Farm and Sag Harbor, has so far rejected the Florida-based fund's advances, saying its $544 million offer was too low.

The report, quoting an anonymous source, said the latest offer would match the previous offer of $21 a share, but would include a key condition -- the removal of a poison pill in Kellwood's shareholder rights plan that prevents any holder from owning more than 20 percent of the company.

Representatives from Sun Capital and Kellwood were not immediately available for comment.

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(Reporting by Ritsuko Ando)