Thursday, September 13, 2012

UPDATED--Abercrombie Hires Goldman (ANF)

Update below.
Original post:
The stock closed up 5,4% on Tuesday, $37.92 last.
From Dealbook:
Abercrombie & Fitch has retained Goldman Sachs as an adviser as the troubled clothier assesses potential responses to moves by one of its investors, the activist hedge fund Relational Investors, a person briefed on the matter said on Wednesday.

Relational, which is headed by Ralph V. Whitworth and is considered one of the top activist shareholders around, currently holds a roughly 3.8 percent stake in Abercrombie & Fitch, according to its most recent regulatory filing.

Mr. Whitworth’s firm, which is based in San Diego, has established a reputation as an investor that companies listen to. He gained a seat on the board of Hewlett-Packard in November as emerging as a major shareholder. (The technology pioneer had also hired Goldman as an adviser in that instance.)...MORE
Update: "Goldman Bankers Arrive at Abercrombie & Fitch (ANF)"