Brookstone Purchase Approved

Shareholders of specialty retailer and catalog marketer Brookstone have okayed the company’s sale to a private consortium led by OSIM International Ltd., a Singapore-based retailer of lifestyle products.

Brookstone operates 292 Brookstore Brand retail stores and five Gardeners Eden stores. It also owns e-commerce sites and catalog titles for each of those brands, as well as the Hard-to-Find Tools catalog.

Under the terms of the acquisition, holders of Brookstone’s 20.4 million common shares will receive $20 cash for each share. That price values the company at $408.8 million.