INSIDERS TO BUY RESTORATION HARDWARE

Restoration Hardware Inc., owner of Red Bank’s most prominent national-chain store, is being taken private by company executives in a deal valued at $267 million, according to the news agency Reuters and other reports.

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The buyout group, which includes private equity firm Catterton Partners, is offering shareholders $6.70 per share, a 150-percent premium over yesterday’s closing price. According to Reuters, that incentive is “much larger than the 20 percent to 25 percent premium typical of takeovers.”

The specialty retailer of home furnishings is based in Corte Madera, Calif. and operates 102 stores across the U.S.

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