Toys "R" Us officially withdraws IPO

By Renaissance Capital,

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Toys "R" Us, which is the leading global toy retailer operating 1,540 stores in 36 countries, withdrew its plans for an initial public offering on Friday. Fourth quarter sales fell 2.6% to $5.77 billion and same-store sales declined 4.5% in the US. The company also recently announced that Gerald Storch would transition from CEO to Chairman and that a search for a successor had begun. 

The Wayne, NJ-based company was founded in 1948 and initially filed for its IPO in May 2010. The company's primary backers include Bain Capital, KKR Associates and Vornado Realty. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Credit Suisse, Deutsche Bank, Citi and Wells Fargo were set to be the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: TOYS

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