The Canada Pension Plan Investment Board, along with Ares Management and the Gold/Schiffer Family, has completed its acquisition of 99¢ Only Stores for $22 per share.
The transaction was approved by the affirmative vote of more than 82% of the outstanding shares of the company’s common stock at a shareholder meeting held on Jan. 12, 2012. The company’s common stock will be delisted from the New York Stock Exchange.
The acquisition was previously announced in October 2011.
Founded in 1982, 99¢ Only Stores currently operates 292 stores, located in California, Texas, Arizona, and Nevada.
© Copyright 2012 Rogers Publishing Ltd.
Originally published on benefitscanada.com
