Douglas Shareholders Approve $2B Advent Takeover Bid

Law360, New York (December 7, 2012, 5:07 PM EST) -- Shareholders in German retail giant Douglas Holding AG voted overwhelmingly in support of a €1.5 billion ($2 billion) buyout bid launched earlier this fall by Boston private equity firm Advent International Corp. and the company's founding family, Douglas said Friday.

The holders of about 92.6 percent of the struggling company's shares tendered their stock in support of the offer, blowing past the required 75 percent approval threshold, according to Douglas. Under its terms, the investors received €38 per share, a 42 percent premium over Douglas' average...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.