FBR Capital Upgrades Ascena Retail Group (ASNA) to Outperform
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Ascena Retail Group (ASNA) PT Lifted to $18 at Piper Jaffray on ANN Deal
May 19, 2015 6:58 AM EDTPiper Jaffray analyst Neely Tamminga reiterated an Overweight rating and boosted her price target on Ascena Retail Group (NASDAQ: ASNA) to $18.00 (from $16.00) after the company agreed to acquire ANN INC. for $47/share in cash and stock. This will be ASNA's fourth... More
Janney Capital Downgrades Ann Inc. (ANN) to Neutral on Takeout
May 18, 2015 1:43 PM EDTJanney Capital downgraded Ann Inc. (NYSE: ANN) from Buy to Neutral with a price target of $47.00 after the company agreed to be acquired for $47 per share, implying 7.7x EV/LTM EBITDA
Analyst Adrienne Yih commented, "This is a good deal for a... More
Ascena Retail Group (ASNA) to Acquire ANN (ANN) for $47/Share in Cash and Stock Deal
May 18, 2015 7:32 AM EDTascena retail group, inc. (NASDAQ: ASNA) and ANN INC. (NYSE: ANN) today announced that they have entered into a definitive merger agreement under which ascena will acquire ANN INC. for a combination of cash and stock in an accretive transaction.
Upon closing, ANN INC. stockholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in exchange for each share of ANN common stock. Based upon the closing price of ascena stock on May 15, 2015, this implies a price per share of $47.00, a 21.4% premium over the... More
