Ann Inc Spikes Amid News Of Discussions With Golden Gate Capital
Ann Inc (NYSE: ANN) spiked upward in after-hours trading Tuesday on news that Golden Gate Capital filed an amended Schedule 13D with the SEC.
The 13D filing added the existence of a non-disclosure agreement between Golden Gate Capital and Ann Inc.
Shares of Ann Inc increased approximately 7 percent on the news.
The filing stated that the two companies “have been engaged in a collaborative, constructive dialogue. The Issuer and Ultimate Parent believe that, given Ultimate Parent’s expertise in specialty retail and the positive interactions to date, it would be beneficial to continue discussions on a more detailed basis. Therefore, the Issuer and Ultimate Parent have entered into a non-disclosure agreement providing for the sharing of certain non-public information with Ultimate Parent.”
A press release from Ann Inc was issued immediately following the 13D filing, but added no additional details.
Ann Inc recently traded at $39.80 in the premarket, up 8.2 percent.
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