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Ann Taylor Brands Join Ascena Group in $2B Deal

NEW YORK CITY—Women's fashion shop ascena Retail Group hopes to bring the Ann Taylor and Loft brands into its fold in a deal worth $2 billion

By Alexandra Schonfeld | Updated on May 19, 2015

NEW YORK CITY—Women’s fashion shop ascena Retail Group hopes to bring the Ann Taylor and Loft brands into its fold in a deal worth $2 billion, based on the valuation of the stores’ parent company, Ann Inc. As of now, ascena includes retail chains Justice, Lane Bryant and other women’s clothing stores. The merger will result in ascena overseeing 4,900 retail stores catering to women’s clothes and accessories.

Ascena intends to meet the purchase price—which was initially reported by Bloomberg—through a combination of cash and stock. Stockholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in exchange for each share of ANN common stock, giving ANN stockholders control of approximately 16% of ascena.

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