Shares of 99 Cents Only Stores (NYSE: NDN) jumped more than 25% on Friday after the company announced that it has received a proposal from members of the Schiffer/Gold family, together with Leonard Green & Partners, L.P., to acquire the Company in a "going private" transaction for $19.09 per share in cash. The Schiffer/Gold family owns approximately 33% of the Company's outstanding common stock, and the letter states that they are prepared to contribute a substantial portion of their existing Company stock ownership as part of the proposed transaction. Stay tuned for more.
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