Gymboree Agreed To Accept $1 Billion 800 Million Privatization Acquisition

Bain Capital will pay $65.40 per share of Gymboree shares, a premium of 24% compared to its closing price of $52.95 on Friday, which is 57% higher than the closing price on September 30th.

Gymboree currently has about 27 million 300 thousand shares of outstanding stock.

Matthew McCauley, chief executive of Gymboree, said: "we are pleased to announce this paction, because it has provided great value for our shareholders", Matthew, Matthew.

He said: "Bain Capital is a world-class Asset Management Co with huge resources and

Bain Capital said that Gymboree is "a great company with amazing brand strength and a huge, highly satisfied" company.

Speculation about a possible takeover has been circulating for weeks.

Last week, a New York Post reported that Gymboree was looking for a deal between 55 and 60 dollars per share.

In addition to Bain Capital, KKR, Apax Partners, Irving Place Capital and Apollo Management are potential bidders, according to the report.

Bain Capital is likely to start an offer soon.

The company has secured financing commitments from Credit Suisse and Morgan Stanley, which is necessary to complete the exchange.

In order to complete the financing, Bain Capital can postpone the completion time under certain circumstances.

If the offer is successful, the deal is expected to be completed by the end of this year.

The Gymboree board has unanimously approved the paction.

The company can seek third party takeover offer within 40 days.

Gymboree is headquartered in Burlingame, California. As of October 2nd, the company has 1037 Crazy 8, Janie & Jack and the same name shop.