CHICAGO (Reuters) – Eddie Bauer Holdings Inc. (Nasdaq:EBHI – news), a clothing and accessories retailer, said on Monday it had accepted a $286 million cash takeover bid from two private equity firms, becoming the latest in a long line of retailers choosing to go private.
A company owned by affiliates of Sun Capital Partners Inc. and Golden Gate Capital will pay stockholders $9.25 per share, a 4.5 percent premium over Friday’s closing Nasdaq price, and assume about $328 million in debt.
The stock, which traded as high as $23.50 in December, was up 13 cents, or 1.5 percent, at $8.98 in afternoon trading.
