Why Chico's FAS Shares Are Rocketing Today?
Portfolio Pulse from Lekha Gupta
Chico's FAS Inc (NYSE:CHS) shares are surging following the announcement of its acquisition by Sycamore Partners for $1 billion. Shareholders will receive $7.60 per share in cash, a 65% premium to its closing price on September 27, 2023. The deal includes a 30-day 'go-shop' period, allowing CHS to consider alternative acquisition proposals. The transaction is expected to close by Q1 2024, after which CHS will be de-listed from the NYSE.
September 28, 2023 | 12:46 pm
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Chico's FAS Inc's shares are surging following the announcement of its acquisition by Sycamore Partners. The deal is expected to close by Q1 2024, after which CHS will be de-listed from the NYSE.
The acquisition announcement has led to a surge in Chico's FAS Inc's share price. The deal, which offers a significant premium to shareholders, is expected to close by Q1 2024. Post-deal closure, the company will be de-listed from the NYSE, which could impact its liquidity and marketability.
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