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Goody's in Possible Acquisition by Private Equity Group
KNOXVILLE, TN -- Goody's Family Clothing has signed a non-binding letter of intent with a private equity group that has offered to acquire 100% of the company's outstanding common stock. The private equity group has offered to buy the stock for between $6.50 and $7.50 a share, and Goody's letter of intent
provides an exclusive due diligence period of up to 90 days.
If an agreement is reached, the company expects the transaction to be complete during the first quarter of fiscal 2003. The retailer said in a company statement Monday that the deal "would enable Goody's to continue as a separate company, but also would be least disruptive to our associates, our customers and the communities we serve."
--from DDI, a sister publication of Retail Merchandiser
If an agreement is reached, the company expects the transaction to be complete during the first quarter of fiscal 2003. The retailer said in a company statement Monday that the deal "would enable Goody's to continue as a separate company, but also would be least disruptive to our associates, our customers and the communities we serve."
--from DDI, a sister publication of Retail Merchandiser
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