The Wall Street Journal-20080115-Bain to Buy Daycare Firm
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Bain to Buy Daycare Firm
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A WSJ News Roundup
Bright Horizons Family Solutions Inc. agreed to be taken private in a $1.3 billion purchase by Bain Capital Partners LLC, which is paying a 47% premium for the provider of child-care services to employers.
Bain agreed to pay $48.25 a share for the Watertown, Mass., company. The deal has a 60-day "go-shop" period, in which Bright Horizons can solicit other bids.
Bright Horizons stock closed up 37% at $44.86 in 4 p.m. Nasdaq Stock Market composite trading. Bright Horizons manages more than 600 early- care and family centers in the U.S., the U.K., Ireland and Canada.
