Fanatics to Acquire Dreams for $3.45 per Share
Dreams, Inc. (NYSE: DRJ) has signed a definitive merger agreement with Fanatics, Inc., a leading online seller of licensed sports products.
The agreement calls for Fanatics to acquire all the outstanding shares of the company for $3.45 per share in cash for an aggregate transaction value of approximately $183 million, taking into account $25 million of outstanding debt. The offer represents a premium of 32.0% over Dreams' closing share price of $2.61 on April 13, 2012, the last trading day prior to this announcement.
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