ANN INC. ALERT – National Securities Law Firm Seeks Higher Price for Ann Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

May 18, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Ann Inc. (NYSE: ANN) (“Ann” or the “Company”) on behalf of its shareholders. ascena retail group, inc. will acquire Ann for a combination of cash and stock in which Ann stockholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in exchange for each share of Ann common stock. At closing, Ann stockholders will own approximately 16% of ascena.

Our investigation has determined that the implied offer price of only $47 per share (based upon the closing price of ascena stock on May 15, 2015), unfairly under-values the true going forward inherent value of Ann and that shareholders are not receiving the maximum value for their shares. Indeed, ascena has identified $150 million in annualized run rate synergies in the combination that it expects to generate over a three-year period. Excluding transaction and integration expenses, the acquisition is expected to be significantly accretive to asena EPS in the first year post closing, accelerating to greater than 20% accretion to EPS thereafter. The investigation further seeks to determine whether the senior management of Ann is entering into this deal for their own self-interests to the detriment of the Company’s shareholders.

If you are a shareholder of Ann and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-906-6432 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.