99 Cents Only Stores99 Cents Only Stores ( NDN) became the center of more buyout chatter on Sept. 16, as new reports surfaced that private-equity firm Apollo Group is interested in buying the dollar store. The New York Post said the firm may be looking to make an offer between $22 and $24 a share. In August, the newspaper reported that the Schiffer-Gold family, which owns about one-third of 99 Cents, was willing to team up with the highest bidder. This potential offer from Apollo Group would top that of Leonard Green, which made a bid of $1.34 billion for the discounter earlier in the year. At the time, the firm proposed an offer of $19.09 a share. 99 Cents said it would evaluate the potential deal. But Wall Street has been criticizing the bid as being too low. 99 Cents Stores has been making significant strides to overhaul its business and is about two years away from hitting its stride when it comes to efficiency. David Gold is the company's co-founder and chairman, while Eric Schiffer, Gold's son-in-law, is chief executive.
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