The Gymboree Corporation announced the expiration of the 40-day "go-shop" period provided for in the previously announced merger agreement, dated as of October 11, 2010, which contemplates the acquisition of the Company by Giraffe Acquisition Corporation, a corporation controlled by Bain Capital Partners, LLC.
During the "go-shop" period, which ended at 11:59 p.m., New York City time, on November 20, 2010, the Company's representatives were permitted to solicit inquiries or engage in discussions with third parties relating to "competing proposals." Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the "go-shop" period.
The tender offer and withdrawal rights are scheduled to expire at 11:59 p.m., New York City time, on November 22, 2010, unless the tender offer is extended or earlier terminated. The Company's board of directors continues to recommend that the Company's stockholders accept the tender offer and tender their shares pursuant to the tender offer commenced by Giraffe Acquisition Corporation.
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