Denim maker True Religion Apparel Inc said it was evaluating strategic alternatives which could include a possible sale of the company, after receiving indications of interest from third parties.Shares of the company rose 21 percent to $25.40 in premarket trade on Wednesday.True Religion said it formed a special committee comprised of its non-management directors and engaged Guggenheim Securities LLC as financial adviser and Greenberg Traurig LLP as legal counsel to assist in the review process.No decision has been made to engage in any transaction, the company said in a statement.
True Religion Apparel, Inc. (True Religion) designs, markets, sells and distributes premium fashion apparel, centered on its core denim products using the brand name True Religion Brand Jeans. Shares of TRLG remained unchanged at $21.01. In the past year, the shares have traded as low as $20.22 and as high as $37.82. On average, 405585 shares of TRLG exchange hands on a given day and today's volume is recorded at 6900.
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