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Ascena Retail to buy Ann Inc. for about $2.15 billion
Mahwah, N.J. – It took close to a year, but Ann Inc., owner of the Ann Taylor and Loft banners, has followed the wishes of major shareholders including Engine Capital LP and Red Alder LLC and agreed to an approximate $2.15 billion buyout from specialty apparel rival Ascena Retail Group Inc. Ascena, whose store brands include Lane Bryant and Dressbarn, will acquire Ann Inc. for $47 in cash and stock per share, a 21% premium over Ann Inc.’s May 15 closing price.
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It’s an omnichannel holiday at Hy-Vee
Regional supermarket co-op Hy-Vee Inc. is giving customers seamless access to their purchases just in time for the holidays.
Earlier this year, 240-unit, West Des Moines, Iowa-based Hy-Vee launched Hy-Vee Aisles Online, a new service that allows customers to shop for their groceries, pay electronically and choose to pick up their order or have it delivered to their home. The rollout of the program began in select stores in the Des Moines metro area in April and was gradually launched across other markets throughout the summer.
