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BREAKING- ALCO Stores to be Acquired for $14 per Share (ALCO)

In a press release Thursday, ALCO Stores, Inc. (NASDAQ: ALCS) will be acquired by private equity group Argonne Capital Group LLC for $14 per share in cash. This represents a 63 percent premium to the company’s Wednesday closing price.

ALCO stores specializes in providing what it calls, “superior selection of essential products for everyday life in small-town America.”

“Argonne Capital is very selective in its acquisition process and focuses on companies that have strong growth potential,” Royce Winsten, Chairman of the Board of ALCO, stated. “We are proud of ALCO’s CEO Rich Wilson and his management team, and how they have positioned the Company for growth. We believe Argonne will help ALCO grow and achieve the goals management and the Board have established for the Company.”

Shares are up 60 percent after being halted.

[stock-tools exchange="NASDAQ" symbol="ALCS" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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