Abercrombie & Fitch Terminates Buyout Talks; Stock Falls

(RTTNews) - Abercrombie & Fitch Co. (ANF) said that it has terminated discussions regarding a potential transaction. The company reported on May 10, 2017 that, after receiving expressions of interest, it had commenced preliminary discussions with several parties regarding a potential transaction.

In the Monday's pre-market trade, ANF is currently trading at $10.92, down $1.24 or 10.20 percent.

Arthur Martinez, Executive Chairman of the Board of Abercrombie & Fitch Co. said, "After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F Board of Directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan...We believe in the prospects for our business and the opportunities for our brands."