99-Cent Only Stores Forms Group to Mull Buyout

Discount retail chain 99-Cent Only Stores has formed a special committee of independent directors to consider a $1.34 billion buyout offer, Reuters reported. Leonard Green & Partners recently up with the Schiffer/Gold family, which owns about 33% of the company’s outstanding stock, to make the offer. The special committee will consider other proposals and strategic alternatives which may be available, 99-Cent said in a statement.

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