German Retailer's Founders Join Advent In $2B Takeover Bid

Law360, New York (October 15, 2012, 2:14 PM EDT) -- Private equity firm Advent International Corp. has joined with the founding family of Douglas Holding AG to launch a €1.5 billion ($2 billion) takeover of the German retailer, they said Monday, signaling an end to nearly a year of guessing about potential buyers.

Under the terms of the deal, Douglas shareholders would receive €38 per share, a 42 percent premium over the average close in the four weeks before buyout rumors bubbled up in January. After the transaction, Advent units will hold 80 percent of the...
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