TORONTO, Feb 16 (Reuters) - Canadian-based international casual
apparel retailer Club Monaco Inc. said on Tuesday it was seeking a merger
partner.
''Club Monaco is currently holding discussions with a third party with respect to a possible business
combination. There can be no assurance that these discussions will result in any agreement,'' a company
statement said.
The Toronto-based company's stock spiked C$1.50, or 17.1 percent, to C$10.25 on Monday's close on the
Toronto Stock Exchange on talk of a possible merger.
The company's chief operating officer and analysts did not return phone calls on Monday but Toronto's
National Post newspaper said the most likely match would be with Limited Inc. of Columbus, Ohio, which runs
more than 3,000 stores including Express, The Limited, Victoria's Secret and Henri Bendel.
The newspaper said sources estimated merger talks focused on a purchase price of Club Monaco at C$12 a
share.
Club Monaco runs and franchises 125 outlets in Canada, the United States, Japan, Korea and other Asian
markets. |
