A.C. Moore to be Bought for $40.8M

A.C. Moore has agreed to be bought by an affiliate of privately held larger rival Sbar's for about $40.8 million in cash. The Sbar's affiliate will pay $1.60 for each A.C. Moore share, a 68 percent premium. A.C. Moore, which also withdrew its outlook, said the Sbar's affiliate received a financing commitment from Wells Fargo to provide debt financing for the deal.