Leonard Green & Partners, L.P. completed its acquisition of The Sports Authority, Inc. one day after the company announced that a special meeting of its stockholders had approved the deal. As a result, Leonard Green & Partners will take The Sports Authoirty private, converting each issued and outstanding share in TSA into the right to receive $37.25 in cash.
Sports Authority said that, based upon the preliminary tally of shares voted, approximately 21.5 million shares were voted at the special meeting, representing approximately 81% of Sports Authority's total outstanding shares. Of those shares voting at the special meeting, approximately 21.3 million shares voted in favor of the merger, representing approximately 80% million of Sports Authority's total outstanding shares.
