Rue21 shareholders approve buyout
By Thomas Olson
Published: Thursday, Sept. 19, 2013, 3:27 p.m.
Shareholders of Rue21 Inc. voted overwhelmingly on Thursday to accept a $1.1 billion offer from London-based private equity firm Apax Partners to take the Marshall-based clothing retailer private.
Apax Partners offered $42 a share in cash to acquire rue21 in late May. The firm controls funds that owned about 30 percent of rue21. The deal is expected to close in early October, the company said.
Rue21 is a specialty retailer of value-priced, fashionable clothing for teens and young adults and operates 971 stores in 47 states. It employs more than 10,000 worldwide, including about 300 at its headquarters and 200 at a distribution center in Weirton, W.Va. No layoffs are planned.
Thomas Olson is a Trib Total Media staff writer. He can be reached at 412-320-7854 or at email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- East McKeesport officials seek disaster funding
- Connellsville wrestling picks up 1st win of season
- Saccone under fire over gun bill
- Penguins center Sutter is thriving despite unsettled 3rd line
- Duquesne holds line on tax hike
- Hempfield rallies behind 4 pins to beat Greensburg Salem
- Whitaker adopts budget
- Century III new owner seeks to reverse vacancy trend with new theater
- Health-insurance mandate poses potential hitch for volunteer fire companies
- Kovacevic: Why give credence to Heisman?
- Steelers notebook: Worilds loses sack; Big Ben gets 1st career catch