Meriden-based Vestis Retail Group said it has completed its cash tender offer for Sport Chalet Inc. at $1.20 per share.
California-based Sport Chalet warned its shareholders last week that they risked a lower price of $1.04 if they didn’t tender an additional 85,000 shares by Aug. 15.
Shareholders ended up offering 4.18 million Class A shares and 1.46 million Class B shares. Vestis said it will acquire the remaining outstanding shares through a short-form merger.
