ABERCROMBIE EYES TAKEOVER BIDS, AND ITS STOCK RISES
Abercrombie & Fitch’s (ANF) stock rose 12% in early trading on Wednesday following a news report that the company was looking to sell itself..
The news, which drove up the company’s stock $1.51 to $14.18, comes as major retailers are closing stores or filing for bankruptcy.
According to a Reuters story, Abercrombie has hired the investment bank Perella Weinberg Partners to oversee possible takeover deals
A one-time fashion darling for teenagers and 20-somethings, Abercrombie has since lost its mojo.
Abercrombie’s stock is at its lowest since 2000.
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