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Ascena Retail Group (ASNA) agrees to acquire rival retailer Charming Shoppes (CHRS) for $890M,...

Ascena Retail Group (ASNA) agrees to acquire rival retailer Charming Shoppes (CHRS) for $890M, WSJ reports, hoping the parent company of Lane Bryant will increase ASNA's exposure to the growing market for large women's clothes. An offer of $7.35/share, a 24.6% premium to today's CHRS closing price, may be announced as soon as tomorrow. CHRS +22.7%, ASNA +6.4% AH.
Comments (1)
  • Old Bill
    , contributor
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    ASNA lost about 1.30 in the last 1/2 hour of trading on about 8 million shares, then gained 1.90 in the next 2 hours (after hours) .. The stock behavior seems exaggerated, given the offer. Is there something missing?
    1 May 2012, 11:07 PM Reply Like
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