Gymboree’s $1.8 billion acquisition by Bain on track
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<
Nielsen: Consumers ready to shop on Black Friday
Schaumburg, Ill. – Nearly one in five Americans will shop on Black Friday, and more than half (61%) plan to spend $100 to $500, according to a new survey by The Nielsen Company. Among the likely Black Friday winners are department stores, with 76% of consumers planing to shop the channel, and supercenters/mass merchandisers, where 55% will shop.
In other findings, 64% of shoppers will buy apparel, while 60% will buy electronics and 47% will buy toys. Also on Black Friday shopping lists: video games (36%), gift cards (35%), discretionary items (27%) and jewelry (22%).
“Consumers are ready to spend, but in a mindul manner,” said James Russo, VP, Global Consumer Insights, The Nielsen Company. “Consumers continue to closely plan their spending in this persistetnly difficult economic climate and for Black Friday, that means shopping lists.”
Survey: 88% of retailers plan Cyber Monday specials
Washington – Retailers have big plans for Cyber Monday (the Monday after Thanksgiving), according to Shop.org’s eHoliday Survey, conducted by BIGresearch. Nearly nine in ten (88.2%) retailers will have a special promotion for Cyber Monday, up from 72.2% in 2007.
Retailers’ Cyber Monday plans are more robust this year with nearly half of companies offering specific deals (49.0%, up from 42.9% last year) and many planning one-day sales (41.2% vs. 32.9% last year) and free shipping on all purchases (21.6% vs. 15.7% last year). In addition, the majority of retailers (62.7%) will send promotions and deals to shoppers through a special Cyber Monday email.
Although many will opt to shop for holiday gifts online from home, many Americans also set aside time over their lunch hours or at the end of the day to shop online from work. According to the survey, 54.5% of workers with Internet access, or 70.1 million people, will shop for holiday gifts from the office this year. Employees most likely to shop from work include men (56.5%) and young adults 25-34 (71.8%).