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Elder-Beerman OKs Bon-Ton Bid

$82 million offer awaits possible counter-bid by investment company



The board of directors of Elder-Beerman Stores Corp. (Dayton, Ohio) has voted to accept an $82 million merger offer from Bon-Ton Stores (York, Pa.).

A rival suitor for Elder-Beerman, Wright Holdings, was given three days to beat the Bon-Ton offer. The Elder-Beerman board had voted in July to accept an offer from Wright Holdings, a subsidiary of private equity investor Goldner Hawn Johnson & Morrison (Minneapolis) worth about $70.5 million.

Bon-Ton is a 72-unit department store chain selling apparel, accessories and home furnishings in nine Northeastern and Middle Atlantic states. Elder-Beerman operates 68 stores in the Midwest.



MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

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