| | Speechless... I was so ashamed that I had ever doubted the goodness of God that I cried at my desk after seeing this on my Bloomberg this morning:
ROCHELLE PARK, N.J. & NEW YORK--(BUSINESS WIRE)--September 11, 2007
United Retail Group, Inc. (NASDAQ: "URGI"), a specialty retailer
of large-size women's fashion apparel, and Redcats USA, Inc., a
subsidiary of Redcats Group, a leading home shopping marketer of
apparel and home products, today announced that they entered into
definitive agreement for Redcats USA to acquire United Retail Group.
Under the terms of the agreement, Redcats USA will commence a
tender offer to purchase all of the outstanding shares of United
Retail Group for $13.70 per share in cash, which is an aggregate
equity value of $198.9 million. The offer represents a 23% premium to
the 90-day average of United Retail Group's share price, and a 82%
premium to the closing price on September 10, 2007. 
This is the stock that I was lamenting about in my last post. This trade went from being one of the worst trades on the desk for the year to one of the best. God is faithful. |
| | Posted 9/11/2007 6:21 PM - 18 Views - 2 eProps - 1 Comment
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