BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Jo-Ann Stores to Be Acquired by Leonard Green & Partners]]>http://www.bloggingstocks.com/2010/12/23/jo-ann-stores-to-be-acquired-by-leonard-green-and-partners/http://www.bloggingstocks.com/2010/12/23/jo-ann-stores-to-be-acquired-by-leonard-green-and-partners/http://www.bloggingstocks.com/2010/12/23/jo-ann-stores-to-be-acquired-by-leonard-green-and-partners/#commentsFiled under: ,

Jo-Ann Stores (JAS) announced that it has definitively agreed to be acquired by an affiliate of Leonard Green & Partners. The acquisition carries a total price tag of $1.6 billion, or $61 per share, which is a hefty 34% premium to Wednesday's close. The merger has been approved by JAS's board of directors after receiving a recommendation of a special committee that was made of independent directors.

JAS chairman and CEO Darrell Webb noted, "We are excited about the prospect of working with Leonard Green & Partners as we further capitalize on opportunities to accelerate the expansion and upgrade of our stores and pursue market share gains. With the help of our talented and dedicated team, we will continue to offer our customers a superior shopping experience for all of their fabric and craft needs."

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Jo-Ann Stores to Be Acquired by Leonard Green & Partners originally appeared on BloggingStocks on Thu, 23 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredinthenewsJASJo-Ann StoresLeonard GreenpurchasetakeoverThu, 23 Dec 2010 10:00:00 EST<![CDATA[Private equity firm takes a bite out of Whole Foods]]>http://www.bloggingstocks.com/2008/11/05/private-equity-firm-takes-a-bite-out-of-whole-foods/http://www.bloggingstocks.com/2008/11/05/private-equity-firm-takes-a-bite-out-of-whole-foods/http://www.bloggingstocks.com/2008/11/05/private-equity-firm-takes-a-bite-out-of-whole-foods/#commentsFiled under:

Yuppie organic food market, Whole Foods (NYSE: WFMI) has been struggling with the slow economy. After all, the company that has jokingly been referred to as Whole Paycheck for its high prices has lost business as people have cut back on spending. Now, a private equity firm has stepped in to do a rare Private Investment in Public Equity (PIPE) deal -- buying 17% of its shares which boosted Whole Foods stock 19.8% after-hours.

Who would do such a thing? An affiliate of Leonard Green Partners, Green Equity Investors V, spent $425 million for its Whole Foods PIPE. Why did Leonard Green do this? Does it expect to take an active role in managing the company and somehow pull it out of its growth slump? Or is its 17% stake simply a passive investment -- and a bet that Whole Foods has bottomed out?

I think Leonard Green may have gotten a bargain. Whole Foods stock fell 6.2% during regular trading after it lowered its 2009 EPS estimates from $1.04 to between $0.95 and $1 -- it earned 82 cents a share in 2008. And based on that lower growth rate, Whole Foods trades at a PEG ratio of 0.6 -- on a P/E of 9.8 with earnings forecast to grow 16% in 2009.

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Private equity firm takes a bite out of Whole Foods originally appeared on BloggingStocks on Wed, 05 Nov 2008 19:47:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>110508leonard greenLeonardGreenwhole foodswhole foods marketWholeFoodsWholeFoodsMarketWed, 05 Nov 2008 19:47:00 EST