Dress Barn Merges with Tween Brands

Here is some interesting news of the day: Dress Barn, Inc. (NASDAQ - DBRN) and Tween Brands, Inc. (NYSE- TWB) today jointly announced that they have entered into a definitive agreement pursuant to which a subsidiary of Dress Barn, Inc. will merge with Tween Brands, Inc. in a stock-for-stock transaction. Dress Barn, Inc. anticipates that the transaction will be neutral to earnings in the first full year of combined operations and accretive thereafter. On a trailing twelve months basis, the combined company has generated in excess of $2.4 billion in net sales and currently operates 2,465 stores. The transaction, unanimously approved by each of Dress Barn, Inc.’s and Tween Brands, Inc.’s Board of Directors, is expected to close in the fourth quarter of calendar year 2009 and is subject to Tween Brands, Inc. stockholder approval and other customary closing conditions. That is a good number of stores... I suggest that if you have not already done so, you attempt to land this account... Good luck.