Aria Partners last Tuesday offered to buy Christopher & Banks for $1.75 per share, 51 percent more than the Plymouth-based company's stock closing price. The company rejected the deal Friday, suggesting that the "proposal does not reflect the full, long-term value stockholders are expected to receive from continued focus on the current strategy."
UPDATE: Body found in vehicle trunk in Mound is that of a boy
Police say two people are in custody.
Brave New Workshop cancels shows due to COVID-19 cases
The shows were scheduled for Friday and Saturday at the Brave New Workshop Comedy Theatre.
Body of missing U of M student found in Mississippi River
Austin Retterath was last seen alive in the morning hours of May 8.
Summer mural events to bring together community, shine light on MN artists
The 2022 Chroma Zone Mural & Art Festival will take place this weekend in St. Paul's Creative Enterprise Zone, with ensuing events happening this summer.
Gallery: Remodeled lakeside home in Prior Lake on market for $2.8M
It offers privacy at the end of a dead-end road fronting onto Lower Prior Lake.
Carjacking outside ice arena in Golden Valley under investigation
Golden Valley PD confirmed it received a report of a carjacking Monday evening.
Signs that MN Legislature could move to loosen liquor laws
A provision was approved by a legislature committee on Thursday but still awaits a final decision from the House and Senate.
U.S. Bank Stadium looking to hire 400 part-time workers
A hiring fair will be held for the positions.
Weekend closures on I-35W in Minneapolis, Hwy. 77 in Bloomington
Construction season is here.
Officials looking for man last seen leaving Hudson home
David Mckay, 67, was last seen in Hudson Thursday morning.
'Hyper-contagious' BA.4, BA.5 COVID variants confirmed in MN
Omicron continues to evolve into a more transmissible virus.
Investment firm urges Christopher & Banks to consider buyout offer
Boston-based Aria Partners, which owns 4 percent of the struggling Plymouth-based women's clothing retailer, has agreed to buy the company for $1.75 per share. Christopher & Banks “immediately dismissed” an offer Aria made last month.
Christopher & Banks hires new CEO
Christopher & Banks has named veteran retail executive LuAnn Via to be its new president and chief executive officer, the Pioneer Press reports. Via was most recently the CEO of Payless Shoes. She will start her new role with the women's apparel company on Nov. 26. Via replaces Joel Waller, who took over when Larry Barenbaum left the struggling Plymouth-based retailer in February.
Christopher & Banks closing 100 stores, 2 in Minnesota
The company says it will be closing its Albert Lea and merging its two locations in Roseville into one. Weak sales forced the women's clothing retailer to cut about 20 percent of its staff earlier this month.
Best Buy founder explores potential buyout options
Richard Schulze is reportedly talking with banks and looking for potential buyout partners as he considers taking the beleaguered Richfield-based electronics retailer private, Bloomberg reports. Schuzle is Best Buy's largest shareholder -- controlling 20.1 percent of the company's stock. The 71-year-old abruptly step down as chairman of the board earlier this month to explore his options.
Sugar workers overwhelmingly reject American Crystal offer
Union leaders say 90 percent of members who cast ballots voted against the company's latest offer. The rejection means 1,300 workers are heading into the fourth month of their lockout.
Moorhead residents dispute flood buyout offers
The In-Forum reports residents claim they're being short-changed -- currently, the city is offering to buy their flood-prone property for about 88 percent of its market value. That's a lot less compared to other buy-outs in the Red River Valley -- which have averaged around 108 percent.
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