Bright Horizons to go private
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From Times Wire Services
Bright Horizons Family Solutions Inc. said it would be taken private in a $1.3-billion purchase by Bain Capital Partners.
Boston-based Bain will pay $48.25 a share in cash for the provider of child-care services to employers, 47% higher than its closing price of $32.79 on Friday. The companies expect the deal to close in the second quarter.
Shares of Bright Horizons of Watertown, Mass., soared 37%, or $12.07, to $44.86.
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