NEW YORK: Toys R Us Inc, the No. 2 US toy retailer whose fortunes have sagged on stiff competition from discounters like Wal-Mart Stores Inc, has agreed to be acquired by two private equity firms and a real estate group in a deal valued at US$6.6bil.
The team of Kohlberg Kravis Roberts & Co (KKR), Bain Capital and Vornado Realty Trust, which will own equal stakes in Toys R Us, beat out Cerberus Capital Management to win the auction for the entire company.
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