Rue21 Shareholders Greenlight $1B Private Equity Buyout

Law360, New York (September 19, 2013, 5:14 PM EDT) -- Clothing retailer Rue21 Inc.’s shareholders voted Thursday to approve the company’s proposed $1.1 billion buyout by Apax Partners LLP, which already is a major investor in Pennsylvania-based Rue21, that's spinning its large insider stake into the latest private equity deal in the apparel sector.

The company said in a statement that 99.7 percent of the shares voted at Thursday's special meeting voted in favor of the buyout that was first announced in May, including 99.6 percent of shares voted by stockholders unaffiliated with the SKM II...
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