Activist investor Engine Capital LP and hedge fund Red Alder are pushing Ann Inc., the parent company of the women’s clothing chain Ann Taylor, to consider selling itself.
In a letter to the company, which became public Monday morning, the two firms said Ann Taylor could be easily worth between $50 and $55 a share to a third party acquirer, which would leave the company with more than a 40 percent profit based on its Friday closing price.
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