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Aria Challenges Christopher & Banks on Rejected Takeover Bid

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Boston—Aria Partners, the hedge fund which made a $64.2 million bid for Christopher & Banks, came out swinging Wednesday after the retailer’s board rejected the offer. Besides turning down the offer last week saying its “current merchandising and marketing strategies have brought stability to and energized the organization,” Christopher & …

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Christopher & Banks Rejects Takeover Bid, Adopts Poison Pill

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Plymouth, MN—Responding to an unsolicited $64.2 million takeover bid from Aria Partners, Christopher & Banks’ board of directors today rejected the offer, saying it isn’t in the best interests of the company. Instead, the board reiterated its supported for a turnaround strategy and its “current merchandising and marketing strategies have …

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Investment Firm Offers $64.3 Million for “Deteriorating” Christopher & Banks

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Boston and Plymouth, MN—Noting that Christopher & Banks’ value has dropped by 95% in the last few years, one of the retailer’s shareholders today challenged the company to accept its takeover offer for $64.3 million. Boston-based Aria Partners, which holds a 4% stake in the retailer, urged Christopher & Banks’ …