Guitar Center agrees to be acquired by Bain Capital
June 27 (Reuters) - Guitar Center Inc. (GTRC.O: Quote, Profile, Research) said it agreed to be acquired by affiliates of private investment firm Bain Capital Partners LLC for about $2.1 billion, including assumed debt. Under the terms, Guitar Center stockholders will receive $63 in cash for each share held, the company said in a statement.
The offer represents a 26 percent premium over Guitar Center’s closing price on Tuesday.
(Reporting by Debojyoti Ghosh in Bangalore)
((Editing by Anil D’Silva; Reuters Messaging:debojyoti.ghosh.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: GUITERCENTRE TAKEOVER/BAIN
(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nWNAS4773
© Reuters 2007. All rights reserved.