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Friday, July 25, 2014

Destination Maternity gives up chase for UK's Mothercare, (NASDAQ: DEST)

U.S. baby product retailer Destination Maternity Corp gave up its pursuit of Britain's Mothercare Plc after having two bid proposals rejected. Earlier this month Mothercare confirmed it had spurned Destination Maternity's increased proposal that valued the UK firm at 266 million pounds.

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 0.56% or $-0.13/share to $22.88. 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 44788.