US: Bain's $1.8bn buyout of Gymboree to go ahead
The $1.8bn buyout of US children's wear retailer Gymboree Corporation by private equity firm Bain Capital will go ahead after the company failed to receive any competing offers.
A 40-day "go-shop" period ended on Saturday night, but failed to generate any new enquiries, "despite a broad solicitation of potentially interested parties," the company said.
Asset management firm Bain Capital in October offered $65.40 per share for Gymboree, which operates 1,049 Gymboree, Gymboree Outlet, Janie and Jack and Crazy 8 stores. The deal is likely to close by the end of the year.
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