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Michaels stores in $5B acquisition deal

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The Michaels Cos., which operates the chain of more than 1,275 Michaels stores in the U.S. and Canada with 45,000 employees, is being acquired by investment funds managed by Apollo Global Management, Inc., in a deal valued at approximately $5 billion. Michaels bills itself as North America’s largest specialty provider of arts, crafts, framing, floral,…

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