(Reuters) – Apparel retailer Chico’s FAS said on Thursday it would be acquired by private-equity firm Sycamore Partners in a $1 billion deal, including debt.
Chico’s FAS shareholders will receive $7.60 per share in cash, representing a 65% premium to the stock’s last close.
The company’s shares jumped 63% in premarket trading.
(Reporting by Savyata Mishra in Bengaluru; Editing by Sriraj Kalluvila)
