The Bon-Ton submits offer for Elder-Beerman

York, PA — The Bon-Ton Stores today said it has submitted a firm offer to Elder-Beerman that would give the latter’s shareholders $7.00 per share in cash for their common stock. In a letter to Elder-Beerman’s board, Bon-Ton chairman and ceo Tim Grumbacher stated that promptly after signing a merger agreement The Bon-Ton would commence a tender offer to purchase all of the company’s outstanding shares. The Bon-Ton also advised the board that it has received written commitments from financing sources to fund the combination.

Elder-Beerman operates 68 department stores in Ohio, West Virginia, Indiana, Michigan, Illinois, Kentucky, Wisconsin, Pennsylvania and Iowa. The Bon-Ton Stores operates 72 department stores in Pennsylvania, New York, Maryland, New Jersey, Connecticut, Massachusetts, New Hampshire, Vermont and West Virginia.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!