99 Cents Only Stores agrees $1.6 billion buyout

woodbuck27

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99 Cents Only Stores agrees $1.6 billion buyout

10-13-2011, 03:16 AM

http://ca.finance.yahoo.com/news/99-Cents-Only-Stores-agrees-1-afp-2657228570.html?x=0

On Tuesday October 11, 2011, 5:38 pm EDT

Bargain-basement 99 Cents Only Stores said Tuesday it has agreed to a takeover deal worth $1.6 billion from a US private-equity firm and a Canadian pension investment agency.

The chain said in a statement the buyers were Ares Management, based in Los Angeles, and the Canada Pension Plan Investment Board.

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