Rue21 to go private in $1.1 billion deal

Thu May 23, 2013 8:41am EDT

May 23 (Reuters) - Teen-apparel retailer rue21 Inc said it agreed to be acquired by private equity firm Apax Partners in a deal valued at about $1.1 billion.

Apax will pay $42.00 per rue21 share in cash, representing a premium of 23 percent to the stock's Wednesday close.