May Department Stores Co. acquires David's Bridal
Posted August 8, 2000
May Department Stores Co., St. Louis, has acquired the 110-store David's Bridal Inc. May announced its tender offer of $20 per share for all David's Bridal Inc.'s outstanding shares was a success as of midnight, Eastern time, on August 7.
The purchase of 99.3 percent of the bridal retailer's common stock will occur through The Bank of New York. May is providing a three-day offering period for the David's Bridal tender offer, as well, to end midnight on Thursday, August 10.
May's earnings fell 12.3 percent in this year's second quarter, to $135 million, despite a 2.6 percent sales increase of $3.14 billion.