New York - Gymboree Corp. said Monday it did not receive any offers that top Bain Capital's $1.8 billion bid for the company and so the buyout will proceed.
The allotted time for Gymboree to receive competing offers expired Friday.
"Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the 'go-shop' period," Gymboree said in a statement.
Asset management firm Bain Capital offered $65.40 per share, or $1.8 billion, for Gymboree in October in what would be one of the biggest private equity deals of the year.
The tender offer and withdrawal rights are scheduled to expire at midnight on Monday<