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Article: GARDEN RIDGE GETS BUYOUT OFFER.(Statistical Data Included)(Brief Article)
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- December 6, 1999
- Author:
CopyrightCOPYRIGHT 1999 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON-Specialty home furnishings chain Garden Ridge Corp. saw its stock price jump after the company announced a buyout offer for $185 million, or $11.50 per share.
The buyer, GR Acquisition, is a wholly owned subsidiary of Garden Ridge shareholder GRDG Holdings, according to documents filed with the Securities and Exchange Commission. Already Garden Ridge's largest shareholder with a 31 percent stake, GRDG is a company run by New York equity investor Three Cities Research, according to company releases.
Garden Ridge did not return calls seeking comment. Three Cities Research said it could not comment at this time.
Garden Ridge, founded in ...