Ascena Group Buys Ann In A Cash And Stock Deal

More than a week back, there were reports that Ann was in advanced one-on-one negotiations with Golden Gate Capital for a probable buyout. Now, the women’s specialty retailer has been acquired by Ascena Retail Group, a women’s clothing retailer dominating plus-sized market, in a cash and stock deal that valued the former at just over $2 billion. According to the deal, Ann’s shareholders will be given $37.34 in cash and 0.68 of a share of Ascena for every share of Ann. Based on Ascena’s ...