Warrendale, Pa. -- Rue21 stockholders have approved the previously announced merger agreement under which funds advised by Apax Partners will acquire the shares of Rue21 for $42 per share in cash. Approximately 99.7% of the shares voted at today’s special stockholder meeting voted in favor of the agreement.
“We are pleased that our stockholders recognize the significant merits of this transaction,” said Bob Fisch, president, CEO and chairman of Rue21. “We look forward to completing the transaction quickly and to working with the Apax team toward achieving our long-term objectives as a leading growth specialty retailer.”
The transaction is expected to close in early October 2013, at which time Rue21 will cease to be traded on NASDAQ.