Ann Taylor

Ann Inc. Under Pressure of Activists asking it to explore a sale option

Ann Inc. Under Pressure of Activists asking it to explore a sale option

Activists have asked Ann Inc, women's apparel retailer, to explore a sale. On Monday, Engine Capital LLP and Red Alder LLC announced that they both have sent a combined letter to the board of directors.

In the letter, the hedge funds have shared that even after having discussion over future of the company the management has not taken the decision to explore a sale. The hedge funds expressed their disappointment with the company. Both of them in unison own more than 1% of outstanding shares of Ann.

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