rue21 Stockholders Approve Acquisition by Funds Advised by Apax Partners
19 Settembre 2013 - 7:33PM
Business Wire
rue21, inc. (NASDAQ:RUE) (“rue21” or the “Company”), a leading
specialty apparel retailer of girls and guys apparel and
accessories, today announced that, based on a preliminary vote
tally from the special meeting of stockholders, rue21 stockholders
have approved the previously announced merger agreement under which
funds advised by Apax Partners will acquire the shares of rue21 for
$42.00 per share in cash. Approximately 99.7% of the shares voted
at today’s meeting voted in favor of the agreement, including 99.6%
of shares voted by stockholders unaffiliated with the SKM II
funds.
“We are pleased that our stockholders recognize the significant
merits of this transaction,” said Bob Fisch, President, Chief
Executive Officer and Chairman of rue21. “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.”
The transaction is expected to close in early October 2013, at
which time rue21 will cease to be traded on NASDAQ.
About rue21, inc.
rue21 is a leading specialty apparel retailer offering exclusive
branded merchandise and the newest trends at a great value. rue21
currently operates 971 stores in 47 states. Learn more at
www.rue21.com.
Forward-Looking Statements
This release may include predictions, estimates and other
information that might be considered forward-looking statements,
including, without limitation, statements relating to the
completion of this transaction. These statements are based on
current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially from those
anticipated as a result of various factors, including: (1)
conditions to the closing of the transaction may not be satisfied;
(2) the transaction may involve unexpected costs, liabilities or
delays; (3) the business of rue21 may suffer as a result of
uncertainty surrounding the transaction; (4) the outcome of any
legal proceedings related to the transaction; (5) rue21 may be
adversely affected by other economic, business, and/or competitive
factors; (6) the occurrence of any event, change or other
circumstances that could give rise to the termination of the
transaction agreement; (7) the ability to recognize benefits of the
transaction; (8) risks that the transaction disrupts current plans
and operations and the potential difficulties in employee retention
as a result of the transaction; and (9) other risks to consummation
of the transaction, including the risk that the transaction will
not be consummated within the expected time period or at all.
Additional factors that may affect the future results of rue21 are
set forth in its filings with the SEC, including its Annual Report
on Form 10-K for the year ended February 2, 2013, which is
available on the SEC's website at www.sec.gov. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date thereof. Except as
required by applicable law, rue21 undertakes no obligation to
update forward-looking statements to reflect events or
circumstances after the date thereof.
For rue21Sard Verbinnen & CoGeorge Sard/Andrew
Cole/Brooke Gordon212-687-8080bgordon@sardverb.comorICR, IncJoseph
Teklits/Jill
Gaul203-682-8200jteklits@icrinc.comjill.gaul@icrinc.comorFor
Apax PartnersApax PartnersSarah Rajani+44 (0)20 7872
6573sarah.rajani@apax.comorUS inquiriesKekst and CompanyTodd
Fogarty+1 212-521-4854todd-fogarty@kekst.com
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