Barrons.com
Chico’s Is Being Bought for $1 Billion. The Stock Is Soaring.
Chico’s FAS stock soared more than 60% Thursday after the Florida-based fashion company said it was being acquired by Sycamore Partners for $1 billion and would be taken private. Chico stock (ticker: CHS) surged 63% at its intraday high Thursday, its largest percent increase on record, based on available data back to 1993, according to Dow Jones Market Data. Under the agreement, Chico’s shareholders will receive $7.60 a share in cash, a 65% premium to the company’s closing stock price of $4.61 on Wednesday.