Ascena Retail Group Inc., a Mahwah-based specialty retailer, announced Aug. 21 it had acquired ANN Inc., a group of specialty apparel retail chain stores for women based in New York City. ANN stockholders will get $37.34 in cash and 68 cents per share of Ascena common stock for each share of ANN common stock. Ascena now owns the Ann Taylor, LOFT and Lou & Grey brands. Proskauer Rose acted as legal counsel to Ascena and Wachtell, Lipton, Rosen & Katz acted as legal counsel to ANN.
CherryRoad Buys Oracle Practice
CherryRoad Technologies Inc. on July 28 acquired the Oracle business, as well as the E-Business and Cloud activities, of Strategic Information Solutions Inc., a Chicago-based provider of technology consultation services. CherryRoad of Morris Plains provides information technology services.
