True Religion Agrees to Go Private in $835 Million Deal

True Religion has agreed to be acquired by investment management firm TowerBrook Capital Partners in a deal worth about $835 million. TowerBrook will pay $32 per share in cash, representing a premium of about 9 percent to True Religion's closing price on May 9, 2013. The company's board unanimously approved the deal and recommended that shareholders vote in favor of the transaction, which is expected to close in the third quarter.