Christopher & Banks rejects Aria Partners' buyout offer
July 6 |
July 6 (Reuters) - Women's clothing retailer Christopher & Banks Corp rejected a $64 million takeover offer from private equity firm Aria Partners, saying it was not in the best interest of stockholders.
The company also adopted a stockholder rights plan, setting a trigger at 15 percent.
Christopher & Banks on Tuesday said it received an unsolicited buyout proposal of $1.75 per share from Aria, which owns 4 percent of Christopher & Banks shares.
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