Frederick’s of Hollywood shareholders OK going private

Hollywood, Calif. - Frederick's of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company's common stock.

The total transaction is valued at approximately $24.8 million. The agreement calls for Frederick’s to be acquired by a group consisting of HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., other common and preferred shareholders who as a group beneficially own approximately 88.9% of the company's common stock.

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