Ann Inc (NYSE: ANN) was founded in 1954 and is headquartered in New York, USA, with 4,250 full-time employees. It is a women’s clothing brand company with thousands of stores.
Update: On August 21, 2015, Ascena Retail Group, Inc. announced the completion of the acquisition of ANN INC.
Ann Inc (ANN):
ANN is an American clothing brand & retail company with a history of more than 60 years. As of March 31, 2015, ANN has established a total of 47 states in the United States, the District of Columbia, Puerto Rico and Canada under the two brands of Ann Taylor and LOFT through subsidiaries. 1030 stores selling women’s clothing, women’s shoes and accessories. Among them, 245 Ann Taylor stores, 537 LOFT stores, 116 Ann Taylor factory stores, 127 LOFT foreign trade stores and 5 Lou & Grey stores.
The company’s predecessor was AnnTaylor Stores Corporation, which changed its current name to Ann Inc in March 2011.
Ann Inc (ANN) investment:
The news that ANN was acquired by ASNA before the 2015-5-18 market was confirmed by both parties, and ANN surged +21% before the market. According to the merger agreement, ANN shareholders will receive US$37.34 in cash and 0.68 shares of ASNA per share (based on the stock price at the close of ASNA on May 15, 2015), with a total value of US$2 billion. ANN shareholders will receive approximately 16% of ASNA. ASNA will complete the acquisition through bank loan financing, and Goldman Sachs and Guggenheim Securities have arranged and implemented financing related to this transaction.
ANN official website: http://www.anninc.com/