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Monday, February 28, 2011

Abercrombie & Fitch postpones meet to approve Ohio move

Abercrombie & Fitch said it postponed a special shareholders' meeting called to move its incorporation to Ohio, after it failed to get shareholder backing. "We have been unable to obtain a strong consensus in favor of reincorporation at this point," the company said in a statement. At the meeting scheduled for Monday, shareholders were to be asked to approve switching the company's place of incorporation to Ohio from Delaware. The company's operational headquarters are already located in New Albany, Ohio. The move has sparked talk that by moving to Ohio, Abercrombie is trying to make it difficult for would-be suitors to acquire the company.