The Michaels Companies (NASDAQ:MIK) has completed the go-shop period under its agreement to be acquired by Apollo Global Management Inc. (NYSE:APO) without attracting a rival takeover proposal. During this period, Michaels' adviser UBS contacted around seven strategic parties and around eighteen financial parties about a potential transaction. The company did not receive any alternative acquisition proposals or offers to acquire the business, a regulatory filing showed on March 29, 2021.

Apollo inked the deal to acquire Michaels at the beginning of March in a deal with an enterprise value of $5 billion (EUR 4.26 billion). Under the terms, shareholders of the target company will be offered to exchange each share held for $22 apiece in cash, valuing its entire share capital at $3.3 billion.