real-time news and commentary for investors
Friday, Sep 20
Retail M&A watch: Rue the day?
- While Rue21 (RUE) shareholders approved the buyout by Apax Partners by a wide margin, it's the P-E firm itself which might be the one with second thoughts.
- During its last quarter, the retailer saw same-store sales decline 5.9% and profits crumble.
- Halper Capital Management estimates Rue21 is worth only half what Apax paid for it.
- The potential retail buyout bomb could have some bearing on how Sycamore Partners handles its investment in Aeropostale (ARO).