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Jenny Craig Holders Approve Acquisition

California | IN BRIEF / California

May 14, 2002|Bloomberg News

Jenny Craig Inc. said its shareholders approved the company's $115-million buyout by an investor group led by ACI Capital Co. The La Jolla-based provider of weight-loss counseling said the transaction is expected to close today.

The $5.30-a-share cash deal had been challenged by shareholders who alleged the offer undervalues the stock. Jenny Craig shares closed up 2cents at $5.27 in over-the-counter trading before the news was released.

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