OCT. 10 | GUITAR CENTER | FINANCIAL
GC Sale Finalized
Guitar Center completed its merger with affiliates of Bain Capital Partners on Oct. 9.
On June 27, GC had entered into a merger agreement with affiliates of Bain Capital, which called for GC stockholders to receive $63 in cash, without interest, for each share of GC common stock held. The transaction was approved by GC’s stockholders on Sept. 18. The total transaction is valued at approximately $2.1 billion, including the assumption of debt. As a result of this transaction, GC’s common stock will no longer trade on Nasdaq.