Jo-Ann Stores/Leonard Green & Partners, L.P.
Jo-Ann Stores, Inc. (NYSE: JAS) announced that they have entered a definitive agreement to be acquired by an affiliate of Leonard Green & Partners, L.P., for a total price of approximately $1.6 billion, or $61.00 per share in cash.
The transaction is expected to close in H111 pending majority shareholder approval.
J.P. Morgan, Bank of America Merrill Lynch and TCW/Crescent Mezzanine have provided committed financing for the transaction.
Centerview Partners and J.P. Morgan are serving as financial advisors and Sullivan & Cromwell LLP and Thompson Hine LLP as legal advisors to the Jo-Ann Stores board of directors.
Bank of America Merrill Lynch and Barclays Capital are serving as financial advisors and Latham & Watkins LLP and Squire, Sanders & Dempsey L.L.P. are serving as legal advisors to Leonard Green & Partners.
The transaction is expected to close in H111 pending majority shareholder approval.
J.P. Morgan, Bank of America Merrill Lynch and TCW/Crescent Mezzanine have provided committed financing for the transaction.
Centerview Partners and J.P. Morgan are serving as financial advisors and Sullivan & Cromwell LLP and Thompson Hine LLP as legal advisors to the Jo-Ann Stores board of directors.
Bank of America Merrill Lynch and Barclays Capital are serving as financial advisors and Latham & Watkins LLP and Squire, Sanders & Dempsey L.L.P. are serving as legal advisors to Leonard Green & Partners.
