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Sycamore to Take Apparel Retailer Chico’s FAS Private for Nearly $1 Billion

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Sycamore to Take Apparel Retailer Chico’s FAS Private for Nearly $1 Billion

Chico’s FAS will be taken private by Sycamore Partners for $938.1 million in an all-cash deal, the apparel retailer said on Thursday, sending its shares surging 63 percent in premarket trading.

Shareholders of Chico’s will receive $7.60 per share, representing a 65 percent premium to the stock’s last close.

Sycamore is known to bet on retail and consumer investments and has a stake in department store operator Belk, discount retailer…

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