99 Cents Only Stores Announces Receipt of a 'Going Private' Proposal at $19.09 Per Share

99 Cents Only Stores NDN today announced that its board of directors has received a proposal from members of the Schiffer/Gold family, together with Leonard Green & Partners, L.P, to acquire the Company in a "going private" transaction for $19.09 per share in cash.

The Schiffer/Gold family owns approximately 33% of the Company's outstanding common stock, and the letter states that they are prepared to contribute a substantial portion of their existing Company stock ownership as part of the proposed transaction.