ShopKo gets green light from FTC
By Staff -- Home Textiles Today, 5/31/2005 11:42:00 AM
GREEN BAY , Wis. — ShopKo Stores, Inc. has been cleared to proceed with its acquisition by an affiliate of Minneapolis-based private equity investment firm Goldner Hawn Johnson & Morrison Incorporated (GHJM).
The Federal Trade Commission granted ShopKo early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, which could have held up the deal.
The closing remains subject to approval by ShopKo's shareholders, funding under the financing commitments obtained by GHJM, and other conditions. The company currently expects the transaction to close late in its second fiscal quarter or early in the third.
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