Ann feeling sale pressure from investors

|By:, SA News Editor

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.