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Abercrombie Says, “Thanks, But No Thanks”

Recommends shareholders refuse stock takeover offer

Published

21 years ago

September 20, 2004

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Abercrombie & Fitch Co. (New Albany, Ohio) has said it does not endorse an unsolicited “mini-tender” offer by TRC Capital Corp., a private Canadian investment company.

TRC has offered to purchase, for cash, up to 2,500,000 outstanding shares of Abercrombie’s Class A common stock. The offer price of $30 net per share represents a 5.4 percent discount to the $31.71 closing price for the retailer’s common stock on the New York Stock Exchange the day of the offer. The offer expires on Oct. 7, 2004.

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