Rue21 Will Go Private in $1.1 Billion Deal

Rue21will sell itself to Apax Partners for about $1.1 billion, including debt, as PE firms continued their pursuit of fashion retailers.

Rue21will sell itself to Apax Partners for about $1.1 billion, including debt, as PE firms continued their pursuit of fashion retailers.

Jennifer Booton from MSN Money reports that Rue21 inked a deal on Thursday, to be acquired by private-equity firm Apax Partners for $1.1 billion in cash — a move it says will deliver “substantial and certain value” as it looks to grow its store base and build out its e-commerce platform.

At $42 a share, the transaction represents a 23% premium to the Warrendale, Pa.-based teen-apparel retailer’s closing price on Wednesday. The deal will return Rue21 to private management.

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