rue21’s Modified Dutch Auction Tender Offer

Akin Gump Strauss Hauer & Feld LLP advised rue21 on the deal.

Specialty retailer rue21 (r21 Holdings, Inc.) announced that it is commencing a modified “Dutch Auction” tender offer to purchase up to $80 million in aggregate value of its Class A Common Stock, par value $0.01, and Class B Common Stock, par value $0.01, at a cash purchase price not greater than $285 nor less than $250 per share.

The modified “Dutch Auction” tender offer allows stockholders to indicate how many shares of common stock and at what price (in increments of $5) within the range set forth above they wish to tender. The offer will expire at 5:00 pm ET on Wednesday, July 7, 2021, unless extended or earlier terminated by rue21 in its sole discretion.

The Akin Gump team advising rue21 included Dan Fisher (Picture), head of the firm’s integrated special situations group, corporate partner Ryan Coxand counsel Kim Rowe.

Involved fees earner: Ryan Cox – Akin Gump Strauss Hauer & Feld LLP; Kimberly Donnelly Rowe – Akin Gump Strauss Hauer & Feld LLP; Daniel Fisher – Akin Gump Strauss Hauer & Feld LLP;

Law Firms: Akin Gump Strauss Hauer & Feld LLP;

Clients: rue21 inc;

Author: Martina Bellini