Apax to Buy rue21 for $1.1 Bln
Apax Partners has agreed to buy rue21 for $42 per share cash or about $1.1 billion. The deal represents a roughly 23% premium to rue21's closing price yesterday. The board of rue21 has approved the deal. Rue21 is a specialty apparel retailer of girls and guys apparel and accessories. The deal includes a 40 day go-shop where the rue21 special committee can actively solicit, evaluate and enter into negotiations with other parties offering a superior proposal. J.P. Morgan Securities LLC, BofA Merrill Lynch and Goldman Sachs are providing financial advice to Apax. Perella Weinberg Partners is the financial advisor to the special committee. BofA Merrill Lynch, J.P. Morgan and Goldman Sachs are providing debt financing.
23 May 2013•9 mins read
