Blue Nile Purchased by Bain Capital

Unable to get much traction as a public company, Blue Nile was purchased by Bain Capital and Bow Street LLC in November for $500 million. The deal ends the e-tailer’s 12 years as a public company. The all-cash deal, which was approved by the board of directors, calls for shareholders to be paid $40.75 a share, a 34 percent premium over its Nov. 4 closing price. The deal is expected to be completed this year. Blue Nile said it expects to keep its headquarters in Seattle. Other than that, the sale announcement offers few clues to the company’s future plans. A note to employees mentioned the “additional resources that come with this partnership.” The purchase price struck some as quite large, given that Blue Nile tends to generate steady but unspectacular profits. (In 2015, the company made $10.1 million.) But some speculate that Blue Nile may be looking to expand in
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