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Blue Nile Says Takeover Bid Unchallenged
Dec 8, 2016 7:14 AM
By Rapaport News
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RAPAPORT... Blue Nile did not receive any takeover bids during a 30-day
period in which it was allowed to consider proposals from third parties,
according to a company filing with the U.S. Securities and Exchange Commission.
The disclosure comes after the online diamond retailer agreed
to a $500 million acquisition by Bain
Capital Private Equity and Bow Street last
month. The terms of the deal permitted Blue Nile to solicit bids from
other potential buyers during a ‘go-shop’ period.
With this period now over, Blue Nile is subject to “customary
restrictions” on its ability to solicit alternative acquisition proposals,
share information with potential bidders or engage in negotiations.
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Tags:
Bain Capital Private Equity, Blue N, Bow Street, ecommerce, M&A, mergers and acquisitions, online retail, Rapaport News
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