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Ascena completes Charming Shoppes tender offer
Suffern, N.Y. -- Ascena Retail Group Inc. announced it has successfully completed its tender offer for Charming Shoppes Inc.'s outstanding shares.
Ascena announced in May it that was buying Charming Shoppes, whose banners include Lane Bryant, Fashion Bug, and Catherines Plus Sizes, for about $890 million.
Charming Shoppes will become an Ascena subsidiary and will stop trading on the Nasdaq and Chicago Stock Exchange once the transaction is complete. Ascena’s retail subsidiaries include Dressbarn, Maurices and Justice.
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Barnes & Noble’s Riggio settles investor lawsuit
New York -- Barnes & Noble Inc. founder and chairman Leonard Riggio agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents, Reuters reported.
The lawsuit goes back to a 2009 agreement by the chain to buy back Barnes & Noble College Booksellers Inc. for $514 million from Riggio.