Home / Knowledge / News / Apparel/Garments / Ascena Retail completes Charming Shoppes tender offer
Ascena Retail completes Charming Shoppes tender offer
Jun '12


Ascena Retail Group Inc. and Charming Shoppes Inc. jointly announced that Ascena has successfully completed its tender offer fr the outstanding shares of common stock of Charming.

The depositary for the offer has advised Ascena that, as of the expiration of the offer at 12:00 midnight, New York City time, on Tuesday, June 12, 2012, a total of approximately 95,742,871 Charming shares were validly tendered in the offer and not withdrawn (including approximately 3,772,371 shares delivered through notices of guaranteed delivery), representing approximately 81.5% of the outstanding common stock of Charming. Shares tendered through notices of guaranteed delivery are required to be delivered to Ascena by Friday, June 15, 2012.

Ascena, through a designated wholly owned subsidiary, will accept for payment in accordance with the terms of the Offer all shares that were validly tendered and not withdrawn prior to expiration of the offer (including all Shares delivered through notices of guaranteed delivery), and payment for such shares will be made promptly, in accordance with the terms of the offer.

Ascena expects to effect a merger of its wholly owned subsidiary with and into Charming without a vote or meeting of Charming’s shareholders in the coming days.

In the merger, each outstanding Charming share not tendered and purchased in the offer, if any (other than those as to which holders properly exercise dissenters rights, if any) will be converted into the right to receive the same $7.35 per share price, without interest and less any required withholding taxes, that was paid in the tender offer.

As a result of the merger, Charming will become a wholly owned subsidiary of Ascena.

Ascena Retail Group Inc

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search