Linens ‘n Things Shareholders Approve Apollo Merge

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Linens ‘n Things Shareholders Approve Apollo Merge
Clifton, NJ, February 1, 2006--Linens 'n Things Inc. shareholders voted on Monday to approve the acquisition of the retailer by Apollo Management, L.P. More than 89 percent of the outstanding shares were voted in favor of the transaction, which is expected to close in mid-February, pending the completion of the required debt financing. Linens 'n' Things also said that upon completion of the deal, Chairman and Chief Executive Norman Axelrod will exit the company after almost 18 years of service. Apollo will then name Robert J. DiNicola, 58, as chairman and chief executive officer of Linens 'n Things.