Michaels Stores Changing Hands: The $250-million specialty...

Michaels Stores Changing Hands: The $250-million specialty home products retail chain with 112 stores said it agreed to be acquired by Robert M. Bass Group’s Acadia Partners LP and a new Dallas investment firm for about $240 million in cash and securities. In 1987, Michaels acquired Moskatel, a California retail chain with 30 stores, for $15 million.