Ascena Retail Group Inc Completes Acquisition Of Charming Shoppes, Inc.


Friday, 15 Jun 2012 09:00am EDT 

Ascena Retail Group Inc announced that it has completed its acquisition of Charming Shoppes, Inc., a apparel retailer specializing in women’s plus-size apparel. Charming Shoppes shareholders received $7.35 for each share of Charming Shoppes. Ascena financed the approximately $900 million transaction through a combination of cash on hand and $325 million of borrowings from its credit facilities. BofA Merrill Lynch acted as financial advisor and Proskauer Rose LLP as legal advisor for Ascena. Barclays Inc. acted as financial advisor and Drinker Biddle & Reath LLP and Schulte Roth & Zabel LLP as legal advisors for Charming Shoppes. 

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