Shares of Ann Jump 12% Amid Buyout Speculation

Shares of Ann Inc ANN jumped over 12 percent in after hours trading amid a report that Golden Gate Capital may acquire the company.

According to Reuters, the deal would value the company at approximately $2 billion versus its market cap of $1.72 billion.


A deal could be completed as early as next week, according to sources speaking to Reuters, however, there was still no certainty that a deal would come together successfully.


Based on the sources, ANN would be open to an offer in the low $40 range.

 

Neither Ann Inc or Golden Gate had commented on the report.


Ann Inc traded at $41.89 in the after hours session, up 12.13 percent.

Posted In: NewsRumorsGolden Gate CapitalReuters
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