By Reuters Staff 2 Min Read (Reuters) - Michaels Cos said on Wednesday it would be taken private by Apollo Global Management for $3.3 billion, less than seven years after the craft supplies retailer returned to public markets. The private equity firm will pay Michaels shareholders $22 per share, a 46.7% premium to the stock’s close on Friday, before the New York Times first reported a potential deal. Michaels’ shares were trading at just $4 a year ago before the COVID-19 pandemic led its sales to jump as people, taking up hobbies while staying at home, rushed to buy art supplies and scrapbooks. The retailer’s stock rose 22% in early trading on Wednesday to slightly above the offer price.