Friday, June 28, 2019

Chico’s gives same answer to new Sycamore bid

Chain Store Age
Chico’s FAS is saying no to a lower version of a buyout offer made in May.

The Chico’s board of directors has unanimously rejected an unsolicited proposal received from Sycamore Partners on June 19, 2019 to acquire all of the outstanding shares of the company for $3.00 per share in cash. The $350 million offer follows rejected offers Sycamore previously made to acquire Chico’s for $3.50 a share and $4.30 a share.. . . more