EU clears proposed sale of Eddie Bauer
08/02/2007
American casual sportswear and outdoor accessories retailer Eddie Bauer Holdings, Inc. has announced that its proposed sale to Eddie B Holding Corp.—owned by affiliates of Sun Capital Partners, Inc. and Golden Gate Capital—has been cleared by the European Commission.
The company’s board of directors unanimously determined that the proposed sale is in the best interests of Eddie Bauer stockholders and recommended that stockholders vote in favour of the adoption of the merger agreement at a meeting to be held on February 8.
The company has entered into a definitive agreement for the sale of Eddie Bauer to Eddie B Holding Corp. for $9.25 per share in cash and the transaction is expected to close in the first quarter of 2007.
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