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Friday, July 25, 2014

BRIEF-Destination Maternity says withdraws proposal to combine with Mothercare, (NASDAQ: DEST)

Destination Maternity Corp * Withdrawal of proposal to combine with Mothercare* Announces that it does not intend to make an offer for Mothercare Plc and is withdrawing its proposal for a possible combination with Mothercare.* CEO says withdrawal demonstrates that we will continue to maintain strict financial discipline in evaluating potential initiatives and opportunities* Destination maternity is unwilling to increase value of its proposal and has therefore decided to withdraw its proposal

Destination Maternity Corporation is the designer and retailer of maternity apparel in the United States and is the only nationwide chain of maternity apparel specialty stores. Shares of DEST fell by 1.13% or $-0.26/share to $22.75. In the past year, the shares have traded as low as $20.14 and as high as $32.98. On average, 90864 shares of DEST exchange hands on a given day and today's volume is recorded at 35621.