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Christopher & Banks to consider Aria buyout proposal
Jul '12
Christopher & Banks Corporation, a specialty women's apparel retailer, acknowledged receipt of a letter from Aria Partners indicating its interest in acquiring all outstanding stock of the Company for $1.75 per share.

Consistent with its fiduciary responsibilities, the Company's Board of Directors will review and consider this unsolicited proposal, in consultation with its financial and legal advisors, and determine the course of action that it believes to be in the best interests of Christopher & Banks and its stockholders, and communicate any such conclusion to its stockholders. Piper Jaffray & Co. and Dorsey & Whitney LLP have been retained as financial and legal advisors, respectively, to assist the Board in its evaluation of the proposal.

Christopher & Banks stockholders are advised to take no action at this time pending the review of the proposal by Christopher & Banks' Board of Directors.

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. As of July 3, 2012, the Company operates 658 stores in 44 states consisting of 389 Christopher & Banks stores, 179 stores in their women's plus size clothing division CJ Banks, 65 dual stores and 25 outlet stores.

Christopher & Banks Corporation

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