Pursuits
Wet Seal Hires Financial Advisers and Adopts Poison Pill
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Wet Seal Inc., the women’s apparel chain under pressure by an activist investor to sell the company, hired financial advisers and adopted a so-called poison pill to block an amassing of shares.
The pill, which expires June 2013, discourages an investor from acquiring more than 10 percent or more of the company, the Foothill Ranch, California-based chain said in a statement. The board has also engaged Guggenheim Securities LLC and Peter J. Solomon Co. to pursue strategic options to increase shareholder value.