19 Retail Takeovers: Rumors Run Rampant
(Retail takeover article updated from Dec. 16)
NEW YORK ( TheStreet) -- Did you miss the boat on the Gymboree (GYMB), J.Crew (JCG) and now Jo-Ann Stores buyout? If so, there are still plenty of potential retail takeovers making headlines for investors to take advantage.
Jo-Ann Stores announced on Thursday that it is being acquired by private-equity firm Leonard Green in a deal valued at $1.6 billion, or $61 a share. This is a 34% premium over its closing price on Dec. 22.
This is the second retail acquisition by Leonard Green over the past two months, and the third major deal within the sector in the past three months.Leonard Green, along with TPG, bought J.Crew in November for $2.86 billion, or $43.59 a share, a 16% premium from the stock's closing price on Nov. 22. As part of the deal, Millard Drexler will continue as chairman and chief executive officer and maintain a significant equity investment in J Crew. This followed the acquisition of Gymboree by private equity group Bain Capital for $1.8 billion, or $65.40 a share. The deal represents a 57.4% premium over Gymboree's share price at the close on Sept. 30, and a 23.5% premium over the close on Oct. 8. "
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