Stockholders give nod to ShopKo sale
December 27, 2005,
GREEN BAY, Wis. – Shareholders of heartland discounter ShopKo Stores have overwhelmingly approved the sale of the company to an affiliate of Sun Capital Partners, a private investment firm, in a deal valued at about $877 million.
In April, shareholders agreed to be bought out by another investment firm, Goldner Hawn Johnson and Morris, but that deal stalled. ShopKo will now pay the spurned suitor a $13.5 million break-up fee.
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