January 24, 2006
Sports Authority, Inc. announces agreement to be acquired by an investor group led by Green Equity Investors IV, L.P., an affiliate of Leonard Green & Partners, L.P.
On January 23, the Sports Authority, Inc. announced that it has entered into a definitive agreement to be acquired by an investor group led by Green Equity Investors IV, L.P., an affiliate of Leonard Green & Partners, L.P. The investor group, which includes members of Sports Authority's senior management team, will pay $37.25 per share in cash, with a total transaction value of approximately $1.3 billion, including debt. As noted in the January 24 Daily Deal, Willkie advised Merrill Lynch, financial advisor to Sports Authority, in the transaction. With nearly 400 stores in 45 states, Englewood, CO-based Sports Authority, is one of the nation's largest full-line sporting goods retailers offering a comprehensive high-quality assortment of brand name sporting apparel and equipment at competitive prices. The deal was handled by partner Steven Seidman and associates Aaron Kazel and Kelly Sutherland.
