CRANBERRY TWP — Clothing and accessories company rue 21 said Wednesday that the “go-shop” period called for under its agreement to sell itself to a private equity firm has expired, putting the deal a step closer to closing.

The Cranberry-based company, located in the Thorn Hill Industrial Park on Commonwealth Drive, said in May that it reached a deal to sell itself to Apax Partners for $42 per share. The deal is valued at $1.1 billion.

Under the terms of the deal, rue 21 and its advisers were allowed to seek out competing bids until Tuesday.

The company said it contacted 60 potential buyers. Six of those chose to enter into talks, but none of them submitted a competing bid.

rue 21 also said Wednesday that the Federal Trade Commission granted early termination to the deal’s antitrust waiting period, allowing it to go forward.

If approved by shareholders, the deal is expected to close by the end of 2013. Its shares finished at $41.66 on Tuesday — just short of the offered price.

The deal would give the private equity firm control of the company. Apax has been an investor in the company for years.

Following completion of the transaction, rue 21 would remain headquartered in Thorn Hill Industrial Park.

Overall, it employs 2,300 people and operates nearly 1,000 stores in 47 states. There are 30 stores in Pennsylvania, including two regional stores in Butler Commons and Grove City Outlets in Mercer County.

There are also stores in Hermitage, Washington, Pittsburgh, Tarentum and Monroeville.

rue 21 sales for the first quarter increased 9.1 percent, while comparable store sales decreased 4.6 percent from the year-ago quarter.

rue 21 plans to open 125 new stores this year.