Bain Capital will purchase Gymboree (GYMB +30.6%) in a deal valued at $1.8B. Bain Capital will pay $65.40/share, a premium of 24% over Gymboree's closing price on Friday. Under the terms of the agreement, Gymboree may solicit acquisition proposals from third parties up to Nov. 20. (PR)
Gymboree (GYMB +5.5%) is climbing premarket on reports it hired Goldman (GS) to begin a formal auction of the company that could bring in more than $1B. This isn't the first buyout rumor that has moved the stock in recent days...
Alex B. Gray+ FollowFollowing- Unfollow|Send Message22 Nov 2010
Gymboree GYMB announces that it did not receive any competing bids to the Bain Capital offer of $65.40 per share.
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The Gymboree Corporation is a specialty retailer operating stores selling high-quality apparel and accessories for children under the GYMBOREE®, GYMBOREE OUTLET, JANIE AND JACK® and Crazy 8® brands, as well as play programs for children under the GYMBOREE PLAY & MUSIC® brand. The Company...More