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Chico's could be buyout target

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  • | 7:24 a.m. October 11, 2013
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Speculation is mounting that Chico's FAS could be the target of a leveraged buyout.

BloombergBusinessweek recently quoted JPMorgan Chase saying some investors are speculating there's an increased chance Chico's may become a buyout target. They noted that Chico's CEO David Dyer previously headed Tommy Hilfiger and Lands' End, both of which were sold.

Chico's, the Fort Myers-based women's retailer, has zero debt and more than $300 million in cash and marketable securities on its balance sheet.

Private equity firm Blue Harbour Group of Greenwich, Conn., recently acquired a 5.6% stake in Chico's. The firm targets companies that could benefit from strategic or financial change.

Chico's shares are publicly traded (symbol: CHS; recent price: $16).


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