Seeking Alpha

Ann feeling sale pressure from investors

  • Engine Capital, along with hedge-fund partner Red Alder believe women's apparel retailer Ann (NYSE:ANN) could fetch approximately $2.5B should it sell itself.
  • The investors, which control just more than 1% of Ann stock, have been in talks with Ann's management for weeks but plan to launch a public campaign because they don't believe the company is moving fast enough.
  • Ann says that it is open to the communication and that the board and management team were "committed to creating value" for all shareholders.
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