Reuters: Mergers News: Ascena to buy Charming Shoppes for $890 mln

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Ascena to buy Charming Shoppes for $890 mln May 2nd 2012, 10:11 Wed May 2, 2012 6:11am EDT May 2 (Reuters) - Women's clothing retailer Ascena Retail Group Inc agreed to buy rival Charming Shoppes Inc for about $890 million in cash. Ascena will pay $7.35 for every Charming Shoppes share - a 24.5 percent premium to the stock's Tuesday close.

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