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UPDATE 1-Hedge funds say Ann Inc could be worth $65/shr in potential sale

2014-09-16 01:03:38| Apparel - Topix.net

Hedge funds Red Alder LLC and Engine Capital again urged Ann Inc to consider a sale to a private equity firm or another apparel company, stepping up pressure on the women's retailer to improve its performance. A sale to retailers like Chico's FAS Inc, Ascena Retail Group, J.Crew or Fast Retailing Co Ltd, could fetch a price between $60 to $65 per share for the Ann Taylor parent, the hedge funds said in an investor presentation on Monday.

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