Sycamore to take Chico's FAS private in $1 bln deal (updated)
28/09/2023 13:17
(Updates with details, shares)
Sept 28 (Reuters) - Apparel retailer Chico's FAS CHS.N
said on Thursday it would be acquired by private-equity firm
Sycamore Partners in a $1 billion deal, including debt.
Chico's FAS shareholders will receive $7.60 per share in
cash, representing a 65% premium to the stock's last close.
The company's shares jumped 63% in premarket trading.
(Reporting by Savyata Mishra in Bengaluru; Editing by Sriraj
Kalluvila)
((Savyata.Mishra@thomsonreuters.com;))