Redcats Group to buy United Retail for $199 mln
NEW YORK (Reuters) - Redcats Group, a home shopping marketer of apparel and other products, will acquire United Retail Group Inc URGI.O for $198.9 million to strengthen Redcats' U.S. position in the women's plus-size apparel market, the companies said on Tuesday.
The deal for United Retail, a specialty retailer of large-size women's fashion apparel, footwear and accessories, represents a 23 percent premium to the 90-day average of United Retail's share price, the companies said.
Redcats Group is a member of the PPR (PRTP.PA) group of companies.
(Reporting by Lewis Krauskopf)
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