Elder-Beerman, a chain of department stores operating in eight states, including Illinois, is going from public to private.

The company announced June 26 that it was being bought by Wright Holdings Inc. for $6 per share.

A new board of directors will be elected when the company changes ownership.

“To the customer, it should be a transparent change,” said Corporate Spokeswoman Gloria Siegler. “This should not affect the store location, our strategy or our employees.”

Siegler said the shareholders will have a chance to vote on this decision once the Securities and Exchange Commission has reviewed it.

She said the company was confident they had the shareholders’ approval because the purchase price is more than a 100 percent over the average closing price of the stock.

One share is currently being traded at below $3.

The Dayton-based company employs 6,100 people nationally and has a local location at 2550 Sycamore Road.

“We’re continuing our strategic plans to open department stores in small to mid-sized markets,” said Siegler regarding future company plans.

Elder-Beerman will open locations in an additional state, Iowa, this fall.