Loading...
Loading...
rue21, inc.
(“rue21”), a leading specialty apparel retailer of
girls and guys apparel and accessories, today announced that the two leading
independent proxy voting advisory firms, Institutional Shareholder Services
(ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders
vote ‘FOR' the proposed acquisition by Apax Partners.
As previously announced on May 23, 2013, rue21 entered into a definitive
agreement under which funds advised by Apax Partners will acquire all
outstanding shares of rue21 for $42.00 per share in cash.
A special meeting of rue21's stockholders to consider and vote on the
acquisition is scheduled to be held on September 19, 2013 at 9:00 a.m. Eastern
Time at the Company's headquarters at 800 Commonwealth Drive, Warrendale,
Pennsylvania 15086. rue21 stockholders of record as of the close of business
on August 5, 2013 will be entitled to vote at the Special Meeting.
The SKM II funds, which collectively own approximately 30% of the outstanding
shares of rue21, have entered into a support agreement to vote their shares in
favor of the transaction with Apax Partners. The transaction with Apax
Partners is subject to approval of stockholders, including a majority of the
rue21 stockholders unaffiliated with the SKM II funds and certain other
specified stockholders as well as other customary closing conditions.
If rue21 stockholders have questions about the Special Meeting or require
assistance in voting their proxies, they should call rue21's proxy solicitor,
Georgeson Inc., at 866-295-8105.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in