Apax To Buy Rue21 For $1.1B As Apparel Buyouts Roll

Law360, New York (May 23, 2013, 1:52 PM EDT) -- Apax Partners LLP on Thursday announced a $1.1 billion buyout of teen clothing chain Rue21 Inc., hoping to sidestep potential conflicts and spin a large insider stake into the latest private equity deal in the apparel sector.

Apax will pay $42 per share for Rue21, a 42 percent premium to its weighted three-month average. The company, which operates some 900 stores across the U.S., has more than doubled its sales in the past five years, selling jeans, T-shirts and accessories to the tween and teen crowd....
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