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MIAMI (AP) - Claire's Stores Inc. agreed to a $3.1 billion takeover proposal from New York-based private equity firm Apollo Management LP, the costume jewelry retailer said Tuesday.
Claire's, which operates about 3,000 stores in the U.S. and around the world under the names Claire's and Icing by Claire's, sells low-cost costume jewelry and accessories primarily to tweens, teens and young adults.
Claire's is the latest among a number of major retail outlets that have taken buyouts. The company last year retained Goldman, Sachs & Co. as its financial adviser to assist in the search for buyers.
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