Cryptocurrency Q&A
Is Michaels owned by Hobby Lobby?
Is Michaels owned by Hobby Lobby?
Carlo
Sat Sep 14 2024
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7 answers
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Excuse me, could you please clarify for me the ownership structure behind Michaels? Specifically, I'm wondering if Michaels, the popular arts and crafts retailer, is actually owned by Hobby Lobby, another well-known chain in the same industry? I'm interested in understanding the corporate relationships and potential connections between these two companies. Is there any official statement or documentation that confirms or denies this ownership link? Thank you for your help in clarifying this matter.
7 answers
SejongWisdomKeeperEliteMind
Mon Sep 16 2024
The company's management reached a definitive agreement to merge with Apollo Global Management, a prestigious venture capital firm renowned for its strategic investments.
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charlotte_clark_doctor
Mon Sep 16 2024
The acquisition was valued at a remarkable price of $22 per share, translating to a total deal worth $3.3 billion. This underscores the confidence that Apollo had in The Michaels Companies' potential and future prospects.
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KDramaLegend
Mon Sep 16 2024
The company underwent a strategic restructuring in July, resulting in a downsizing of its headquarters operations. Despite this change, it maintained its presence in Irving, Texas, demonstrating a commitment to the local market.
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EthereumElite
Mon Sep 16 2024
The deal marked a significant shift for The Michaels Companies, as it transitioned from a publicly traded entity to a privately held company.
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Sara
Mon Sep 16 2024
This transition is often sought by businesses seeking greater flexibility in their operations and strategic planning, away from the scrutiny and pressures of the public market.
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