Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, July 2, 2014

BRIEF-Mothercare confirms rejection of new offer from Destination Maternity, (NASDAQ: DEST)

Mothercare Plc : * Response to announcement* Notes announcement by Destination Maternity Corporation that it is considering a possible offer for Mothercare* On May 27, 2014 board received preliminary and highly conditional approach from destination maternity regarding possible offer at an indicative value of 250 - 275 pence per Mothercare share* Reviewed proposal in detail and concluded that it significantly undervalued mothercare and its attractive prospects

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 traded higher by 1.32% or $0.3/share to $23.07. In the past year, the shares have traded as low as $22.00 and as high as $32.98. On average, 87964 shares of DEST exchange hands on a given day and today's volume is recorded at 121604.