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Blue Nile Says Takeover Bid Unchallenged

Dec 8, 2016 7:14 AM   By Rapaport News
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RAPAPORT... Blue Nile did not receive any takeover bids during a 30-day period in which it was allowed to consider proposals from third parties, according to a company filing with the U.S. Securities and Exchange Commission.

The disclosure comes after the online diamond retailer agreed to a $500 million acquisition by Bain Capital Private Equity and Bow Street last month. The terms of the deal permitted Blue Nile to solicit bids from other potential buyers during a ‘go-shop’ period.

With this period now over, Blue Nile is subject to “customary restrictions” on its ability to solicit alternative acquisition proposals, share information with potential bidders or engage in negotiations.
Tags: Bain Capital Private Equity, Blue N, Bow Street, ecommerce, M&A, mergers and acquisitions, online retail, Rapaport News
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