Toys R Us Inc. agreed Thursday to be acquired by an investment group that includes two private equity firms and a real estate developer in a deal valued at $6.6 billion.
The announcement came seven months after the company announced it would seek to separate its struggling toy business from the smaller, but more lucrative, Babies R Us division.
Instead, the company will be acquired whole by Bain Capital LLC, Kohlberg Kravis Roberts & Co., and Vornado Realty Trust, who will be equal partners. The consortium will acquire all shares of Toys R Us for $26.75 a share. Completion of the deal requires regulatory review and approval by the shareholders, and is expected to occur by July, the company said.