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Article: ShopKo: Very Well Shopped, Says Banker.(Goldner Hawn Johnson & Morrison )
- Article from:
- Mergers & Acquisitions Report
- Article date:
- April 18, 2005
- Author:
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Investors anticipate a higher bid for ShopKo Stores Inc., but the banker for buyer Goldner Hawn Johnson & Morrison says the company was shopped for much of last year.
On April 8, Goldner made an $715 million offer to acquire the equity of discount regional retailer ShopKo, and also plans to take out $330 million in debt. Shares of ShopKo immediately traded over the $24-per-share cash offer, hitting as high as $26.70. At press time, the shares traded at $24.94 d.
Green Bay, Wis.-based ShopKo operates 363 stores from Wisconsin through California, which sell electronics, apparel and other consumer goods. It owns the land at 179 locations.
Frank ...