Michaels Craft Stores Going Private Again, for $5 Billion

Michaels Craft Stores Going Private Again, for $5 Billion
Rich Duprey, The Motley Fool
·2 min read

Arts and crafts retailer The Michaels Companies (NASDAQ: MIK) is going private again. This time it's being acquired by Apollo Global Management (NYSE: APO) for $22 per share, or $5 billion. That's $1 billion less than the last time it was taken private, in 2006 by Bain Capital, and it represents the struggle the retailer has faced since returning to the public markets eight years later at a price of $17 per share.