Charming Shoppes Inc. (CHRS) announced Wednesday morning that it agreed to be acquired by Ascena Retail Group (ASNA) in a cash transaction valued at approximately $890 million.
Charming Shoppes gapped open sharply higher Wednesday, but moved in a narrow range throughout the session. The stock closed up by 1.41 at $7.31 on the highest volume of the year and set a new high for the year.
For comments and feedback: editorial@rttnews.com