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TOYS R US TO ACQUIRE BABY SUPERSTORE INC.(BUSINESS)
- Article from:
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The Cincinnati Post (Cincinnati, OH)
- Article date:
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October 2, 1996
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Copyright informationCOPYRIGHT 1996 The Cincinnati Post. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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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Byline: Dow Jones News Serivce
PARAMUS, N.J. -- Toys R Us Inc. said today it will acquire struggling Baby Superstore Inc. in a stock swap valued at about $376 million.
Toys R Us will combine Baby Superstore's operations with its Babies R Us stores, giving it 73 infant and toddler stores in 23 states with sales of more than $450 million in 1996.
Baby Superstore shareholders will receive 0.8121 Toys R Us share for each share held.
However, Jack Tate, Baby Superstore's founder, chairman and chief executive and the holder of 46.8 percent of the company's common stock, will receive 0.515 Toys R Us share for ...