Apollo Management Close to $3B Takeover of Claire's Stores (CLE) - NYP

According to reports from the New York Post, private equity firm Apollo Management is close to a $3 billion takeover of Claire's Stores Inc. (NYSE: CLE). The paper said the deal is likely to be between $32 and $34.50 a share. Link

Claire's Stores (CLE) option implied volatility of 25 at low end of Range

Claire's Stores (NYSE: CLE) : CLE operates 2,878 stores for pre-teens & young adults. CLE closed at $33.27. Women's Wear Daily reported on 12/11/07 CLE entered a second round of bidding for its assets. CLE over all option implied volatility of 25 is below its 6-month average of 30 according to Track Data, suggesting decreasing risks. Paul Foster

Claire's Stores (CLE) Higher On Reports Takeover Getting Closer

Claire's Stores, Inc. (NYSE: CLE) is higher this morning following reports from Women's Wear Daily the company entered into the second round of bidding with offers said to be around $39 per share.

Earlier in the month, Claire's Stores said it was exploring strategic alternatives for enhancing shareholder value, including a possible sale of the company. The Company has retained Goldman, Sachs & Co.

Claire's Stores, Inc. is a leading international specialty retailer offering value-priced costume jewelry and accessories to fashion-aware tweens, teens and young adult females through its two store concepts: Claire's and Icing by Claire's.

Shares of Claire's Stores are 4.5% higher to $34.60 in early action.

UPDATE: Claire's Stores (CLE) Confirms It Hired Banker to Explore Strategic Alternatives

UPDATE: Claire's Stores, Inc. (NYSE: CLE) confirmed that it is exploring strategic alternatives for enhancing shareholder value, including a possible sale of the company. The Company has retained Goldman, Sachs & Co. as its financial advisor to assist in this effort. The Company stated that there can be no assurance that this process will result in any specific transaction.

Reports Claire's Stores (CLE) Hires Banker for Possible Sale

According to reports from Bloomberg after the close Thursday, Claire's Stores Inc. (NYSE: CLE) has hired an investment bank to explore a possible sale.