U.S. teen apparel retailer company Abercrombie & Fitch is working with an investment bank to field takeover interest from other retailers, people familiar with the situation said on Tuesday.
Abercrombie’s shares are trading at a 17-year low, making it a vulnerable acquisition target. The company has struggled as its logo-stamped t-shirts and sweaters, once popular among teenagers, have lost their fashion appeal.
Abercrombie (ANF, +0.24%)has hired investment bank Perella Weinberg Partners to handle the takeover approaches, the two sources said, asking not to be identified because the matter is confidential.
