Chico's FAS hits near 5-year high after $938 mln Sycamore buyout

Chico's FAS

28/09/2023 15:29

** Shares of apparel and accessories retailer Chico's FAS
 CHS.N  soar 61.7% to $7.46, hitting near five-year high
    ** Co to be acquired by private equity firm Sycamore
Partners in a $938.1 mln deal 
    ** CHS shareholders to receive $7.60/shr in cash,
representing a premium of 65% to stock's last close 
    ** Transaction approved by CHS board, expected to close in
Q1 of FY24
    ** After closing of deal, CHS will no longer be listed on
the NYSE 
    ** CHS top gainer on the NYSE Consolidated index as of 10:05
ET
    ** CHS up 51.7% YTD, outperforming the small-cap S&P 600
index  .SPCY , which has lost 0.2% 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))