Breaking News! Toys 'R Us Sold!
Thursday March 17, 2005
The breaking news this morning is that the world famous #2 toy retailer Toys "R" Us has announced Thursday, March 17th 2005 that it has agreed to sell the entire company to a group of investors led by KKR Group, Bain Capital and Vornado Realty Trust for $6.6 billion. According to CNN Money, "Under the terms of the agreement, the investor group will acquire all the outstanding shares of the Wayne, N.J.-based Toys "R" Us for $26.75 a share." The shares of Toys R Us jumped up by a good 5% this morning with the news. Overall the move of selling the entire company is the one which makes the most sense, instead of it being sold piece by piece. Hopefully this deal, which is to be completed in July, provides Toys R Us with a fresh start and a brighter future.