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BRIEF-Destination Maternity says withdraws proposal to combine with Mothercare
July 25, 2014 / 5:10 PM / 3 years ago

BRIEF-Destination Maternity says withdraws proposal to combine with Mothercare

July 25 (Reuters) - Destination Maternity Corp

* Withdrawal of proposal to combine with Mothercare

* Announces that it does not intend to make an offer for Mothercare Plc and is withdrawing its proposal for a possible combination with Mothercare.

* CEO says withdrawal demonstrates that we will continue to maintain strict financial discipline in evaluating potential initiatives and opportunities

* Destination maternity is unwilling to increase value of its proposal and has therefore decided to withdraw its proposal

* Mothercare board and certain Mothercare shareholders presented concerns to Destination Maternity’s financial adviser regarding Destination Maternity’s ability to finance combination with Mothercare Source text for Eikon: Further company coverage:

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