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Charlotte Russe, the San Diego-based young women's clothing retailer, has agreed to be purchased at a premium of 27% over Friday's closing price. An affiliate of Advent International private equity firm will pay $17.50 a share, or about $380 million in cash with rights to buy preferred shares. The tender offer should begin Aug. 31. The company has been searching for a buyer since January. Last November, it turned down an offer from two investment firms -- enraging some shareholders. The shares are up 25.96% this morning to $17.37, so there appears to be almost no fear that the deal won't go through.
Charlotte Russe, the San Diego-based young women's clothing retailer, has agreed to be purchased at a premium of 27% over Friday's closing price. An affiliate of Advent International private equity firm will pay $17.50 a share, or about $380 million in cash with rights to buy preferred shares. The tender offer should begin Aug. 31. The company has been searching for a buyer since January. Last November, it turned down an offer from two investment firms -- enraging some shareholders. The shares are up 25.96% this morning to $17.37, so there appears to be almost no fear that the deal won't go through.