Chico's FAS Penned A Deal To Be Acquired By Sycamore Partners For $1B; Chico's FAS Shareholders To Receive $7.60 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Chico's FAS, Inc. (NYSE:CHS) has announced a definitive agreement to be acquired by Sycamore Partners for $1 billion. Upon completion, Chico's FAS will become a privately held company. Shareholders will receive $7.60 per share in cash, a 65% premium to the closing stock price on September 27, 2023.
September 28, 2023 | 11:58 am
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Chico's FAS is to be acquired by Sycamore Partners for $1B, with shareholders receiving a 65% premium on their shares. The company will become privately held post-acquisition.
The acquisition of Chico's FAS by Sycamore Partners at a 65% premium is a significant event for the company and its shareholders. This will likely lead to a short-term increase in the stock price as shareholders will receive a premium on their shares. Post-acquisition, the company will become privately held, ending its presence on the stock market.
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