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Group to Acquire Toys R Us in $6.6B Deal (from ATSNN)

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posted on Mar, 17 2005 @ 07:15 PM
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Toys R Us Inc. is the nation's second-largest toy seller. It is now being sold in a $6.6B deal. The deal started in an effort to seperate Toys R Us and the Babies R Us segment. Toys R Us Inc. is now a privately owned company.
 



news.yahoo.com
NEWARK, N.J. - Toys R Us Inc., the nation's second-largest toy seller, is staying in one piece after weighing a breakup.

The struggling retailer announced Thursday it had agreed to become a privately owned company in a $6.6 billion buyout deal proposed by a group that includes two equity firms and a real estate developer. The deal ended a seven-month auction that started as an effort to divide the sluggish toy business from the smaller, but more lucrative, Babies R Us segment.

Instead, the company agreed to be swallowed whole by Kohlberg Kravis Roberts & Co., Bain Capital LLC and Vornado Realty Trust, who will be equal partners.


Please visit the link provided for the complete story.


I remember the days when I went to Toys R Us to buy toys and video games. I hope that Toys R Us is still going to be around for awhile because it is a great store for kids. This deal ended a seven-month auction and this proves that everyone wants to own Toys R Us.

[edit on 17-3-2005 by they see ALL]

[edit on 17-3-2005 by Spectre]




posted on Mar, 17 2005 @ 10:19 PM
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Originally posted by they see ALL
.... this proves that everyone wants to own Toys R Us.


Not really; just proves that Henry Kravis doesn't like to be told "no." Six and a half billion for a company that's been bleeding money for years? :shk:



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