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Ascena Retail to Buy Ann Inc for About $2.15 Billion
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18.05.2015
Ascena Retail Group Inc, which runs Dressbarn and Lane Bryant women's clothing stores, said it agreed to buy rival Ann Inc, owner of LOFT and Ann Taylor, for $2.15 billion.
Ascena, which like Ann targets women in the 20 to 40 age group, said it would pay $37.34 in cash and 0.68 of its share for each Ann share.
Ascena Chief Executive David Jaffe said in a statement,"With the addition of the Ann Taylor and LOFT brands, Ascena will become one of North America's largest and most diversified specialty apparel retailers."
Ascena, which like Ann targets women in the 20 to 40 age group, said it would pay $37.34 in cash and 0.68 of its share for each Ann share.
Ascena Chief Executive David Jaffe said in a statement,"With the addition of the Ann Taylor and LOFT brands, Ascena will become one of North America's largest and most diversified specialty apparel retailers."
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