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Last Update: 11-Oct-11 11:33 ET
99 Cents Only to be Acquired for $22.00/Share
99 Cents Only (NDN $21.38 +0.89) announced that it has entered into a
definitive agreement to be acquired by affiliates of Ares Management LLC and
Canada Pension Plan Investment Board for $22.00 per share in cash, in a
transaction with a total equity value of approximately $1.6 billion.
The company's Special Committee concluded that the transaction with Ares
Management and CPPIB is fair to and in the best interests of the Company and its
shareholders. The transaction requires the affirmative vote of holders of a
majority of the Company's outstanding shares in favor of the transaction, which
will be sought at a special meeting of the shareholders of the company.
