Stock Market & Financial Investment News

News Breaks December 4, 2012 07:46 EDT RUE rue21 shares remain undervalued, says JPMorgan JPMorgan attributes sluggish comps for the pressure in rue21 shares, but expects the company to post 20% earnings growth again in FY13. The firm thinks the stock is undervalued at current levels and maintains an Overweight rating on the stock. News For RUE From The Last 14 Days Check below for free stories on RUE the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 23, 2013 16:23 EDT RUE On The Fly: Closing Wrap Subscribe for More Information 12:47 EDT RUE rue21 agrees to buyout, as previously predicted by analyst Subscribe for More Information 12:38 EDT RUE On The Fly: Midday Wrap Subscribe for More Information 10:38 EDT RUE rue21 agrees to be acquired by Apax Partners for $42.00 per share rue21 announced a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42.00 per share in cash. The transaction is valued at approximately $1.1B. The transaction price represents a premium of approximately 23% to yesterday's closing share price and approximately 42% to the 90-day volume weighted average price. The rue21 board approved the agreement based on the unanimous recommendation of a Special Committee comprised of three independent directors. As part of the agreement, the Special Committee, with the assistance of its advisors, will conduct an initial 40-day "go-shop" process starting today during which it will actively solicit, evaluate and potentially enter into negotiations with any parties willing to offer a superior acquisition proposal. The go-shop process provides for a low termination fee of 1% to be paid to Apax. rue21 management, including Bob Fisch, has not entered into any arrangements with Apax and is willing to work with any party that emerges through the go-shop process. 10:31 EDT RUE rue21 downgraded to Neutral from Overweight at Piper Jaffray rue21 is being acquired by Apax for $42 per share. Sign up for a free trial to see the rest of the stories you've been missing.