- Stockholders have approved the proposed acquisition of Rue 21 by Apax Partners at $42 per share. Roughly 99% of Rue 21 shareholders voted in favor of the merger, according to Chain Store Age.
- “We are pleased that our stockholders recognize the significant merits of this transaction,” said Bob Fisch, Rue 21 president, CEO and chairman.
- The merger between Rue 21 and Apax Partners is expected to be finalized by October of this year, at which time Rue 21 will no longer be a publicly traded company on the NYSE.
From the article:
“We look forward to completing the transaction quickly and to working with the Apax team toward achieving our long-term objectives as a leading growth specialty retailer….”