Sycamore Partners to acquire Chico's FAS in $1 billion deal
Chico's FAS Inc. (NYSE:CHS) stock rocketed more than 60% after the clothes retailer announced it was being acquired in a premium priced cash takeover that values the business at $1 billion.
Sycamore Partners, a private equity firm focused on retail, is paying Chico’s shareholders $7.60 per share.
"Sycamore Partners has an outstanding record in the retail industry in partnering with management teams to help businesses reach even greater levels of success,”