Ascena Retail Group Inc., the parent company of apparel retailers Ann Taylor and Lane Bryant, has received a new, higher stalking horse offer to buy the intellectual property, e-commerce business and other assets of its tween-oriented chain Justice out of bankruptcy.
The $44 million bid from brand management company Bluestar Alliance LLC trumps a previous $35 million offer from Premier Brands Justice LLC, an acquisition vehicle of apparel maker and distributor IHL Group.
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This post first appeared on wsj.com
