Books-A-Million has officially completed the purchase of the retailer by executive chairman Clyde Anderson and members of the Anderson family.
With the completion of the deal, which was approved by company shareholders on December 8, BAM returns to being a private company and its shares have been delisted from trading.
In a prepared statement, Anderson said: “I am pleased that the majority of the minority shareholders voted in favor of the go-private merger proposal. Also, I am excited to lead the company into the next phase of its history. The transaction returns the company to private ownership in a way that allows us to focus on our customers, suppliers, employees, and the communities we serve.”
Anderson will continue to serve as executive chairman and as a BAM director while Terry Finley will continue to serve as CEO.