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Independent firms favor Apax-rue 21 deal
Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.
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Redevelopment Coup
WinCo Foods has agreed to develop an 85,000-sq.-ft. modern grocery store at Old Orchard Village East in Lewisville, Texas.
WinCo Foods, founded in Idaho in 1967, is an employee-owned discount grocery that operates 87 stores and plans to expand into Dallas-Fort Worth metro region with 15 new stores over the next several years.
The deal will take the Old Orchard Village East center from 60% leased to 100% leased and make it possible to carry out a $20 million transformational redevelopment.
