rue21 Stockholders Approve Acquisition by Funds Advised by Apax Partners

  rue21 Stockholders Approve Acquisition by Funds Advised by Apax Partners

Business Wire

WARRENDALE, Pa. & NEW YORK -- September 19, 2013

rue21, inc. (NASDAQ:RUE) (“rue21” or the “Company”), a leading specialty
apparel retailer of girls and guys apparel and accessories, today announced
that, based on a preliminary vote tally from the special meeting of
stockholders, rue21 stockholders have approved the previously announced merger
agreement under which funds advised by Apax Partners will acquire the shares
of rue21 for $42.00 per share in cash. Approximately 99.7% of the shares voted
at today’s meeting voted in favor of the agreement, including 99.6% of shares
voted by stockholders unaffiliated with the SKM II funds.

“We are pleased that our stockholders recognize the significant merits of this
transaction,” said Bob Fisch, President, Chief Executive Officer and Chairman
of rue21. “We look forward to completing the transaction quickly and to
working with the Apax team toward achieving our long-term objectives as a
leading growth specialty retailer.”

The transaction is expected to close in early October 2013, at which time
rue21 will cease to be traded on NASDAQ.

About rue21, inc.

rue21 is a leading specialty apparel retailer offering exclusive branded
merchandise and the newest trends at a great value. rue21 currently operates
971 stores in 47 states. Learn more at www.rue21.com.

Forward-Looking Statements

This release may include predictions, estimates and other information that
might be considered forward-looking statements, including, without limitation,
statements relating to the completion of this transaction. These statements
are based on current expectations and assumptions that are subject to risks
and uncertainties. Actual results could differ materially from those
anticipated as a result of various factors, including: (1) conditions to the
closing of the transaction may not be satisfied; (2) the transaction may
involve unexpected costs, liabilities or delays; (3) the business of rue21 may
suffer as a result of uncertainty surrounding the transaction; (4) the outcome
of any legal proceedings related to the transaction; (5) rue21 may be
adversely affected by other economic, business, and/or competitive factors;
(6) the occurrence of any event, change or other circumstances that could give
rise to the termination of the transaction agreement; (7) the ability to
recognize benefits of the transaction; (8) risks that the transaction disrupts
current plans and operations and the potential difficulties in employee
retention as a result of the transaction; and (9) other risks to consummation
of the transaction, including the risk that the transaction will not be
consummated within the expected time period or at all. Additional factors that
may affect the future results of rue21 are set forth in its filings with the
SEC, including its Annual Report on Form 10-K for the year ended February 2,
2013, which is available on the SEC's website at www.sec.gov. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date thereof. Except as required by applicable law,
rue21 undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date thereof.

Contact:

For rue21
Sard Verbinnen & Co
George Sard/Andrew Cole/Brooke Gordon
212-687-8080
bgordon@sardverb.com
or
ICR, Inc
Joseph Teklits/Jill Gaul
203-682-8200
jteklits@icrinc.com
jill.gaul@icrinc.com
or
For Apax Partners
Apax Partners
Sarah Rajani
+44 (0)20 7872 6573
sarah.rajani@apax.com
or
US inquiries
Kekst and Company
Todd Fogarty
+1 212-521-4854
todd-fogarty@kekst.com
 
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