Retailer Douglas Approves $2B Advent Takeover Offer

Law360, New York (November 9, 2012, 11:45 AM EST) -- The management and supervisory boards of German retailer Douglas Holding AG recommended Friday that its shareholders approve a €1.5 billion ($2 billion) buyout bid launched last month by the company’s founding family and private equity firm Advent International Corp.

Under the proposed terms, Douglas investors would receive €38 per share, a 42 percent premium over the company’s average close in the weeks before takeover rumors began to bubble up in January. Following the deal, Advent would hold 80 percent of the company and the Kreke family...
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