Aria Partners, which owns 4% of Christopher & Banks Corp. (CBK: Quote) shares, said it sent a letter to the company's board of directors urging it to consider Aria's offer to acquire the company for $1.75 a share.
"The deterioration of enterprise value the current management team has wrought upon the company is unprecedented," stated Edward Latessa, partner, Aria Partners. "Our generous offer to acquire the company for a 50% premium over the stock price will bring it the expertise, capital and manpower to right the ship. We ask that the board seriously consider this proposal."
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by RTT Staff Writer
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