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Michaels Acquired by Apollo Global in $5B Take-Private Deal

The Michaels Companies announced Wednesday that it is being acquired by the private equity firm Apollo Global Management. The transaction is valued at $5 billion, while Michaels holds an equity value of $3.3 billion.

The purchase price for the Texas-based arts and crafts retailer, $22.00 per share in cash, represents a 47% premium to the company’s closing price last Friday, before the possibility of a sale began to receive attention in the media.

Allen Pusey

Allen Pusey is a senior editor and writer at The Texas Lawbook.

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