Bain To Buy Guitar Center

Bain Capital has agreed to acquire Guitar Center Inc. (Nasdaq: GTRC), a Westlake Village, Calif.-based retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. The total deal is valued at approximately $2.1 billion, with Guitar Center stockholders to receive $63 per share in cash (26% premium over yesterday's closing price). Goldman Sachs ran the auction, while Peter J. Solomon Co. advised Guitar Center.