TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Rue21 shareholders approve buyout

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

By Thomas Olson
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 tolson@tribweb.com.

 

 
 


Show commenting policy

Most-Read Stories

  1. Michigan State defensive coordinator a Pitt coaching candidate
  2. Despite intimidation, women still passionate about video games
  3. Penguins’ defensive depth proves valuable
  4. Steelers notebook: Polamalu, Taylor unlikely to play, Harrison ‘ready’
  5. Pirates sign Corey Hart to 1-year deal
  6. Man involved with crash with officer dies in Pittsburgh hospital
  7. Port Authority fires two bus drivers involved in rollover crash
  8. Police gather in Ligonier for Perryopolis officer’s funeral
  9. Ex-juvenile center director claims he was fired because he’s black
  10. City, abortion activists fail to reach compromise on buffer zone, judge to rule
  11. Night-blooming cereus is stunning, fragrant
Subscribe today! Click here for our subscription offers.