True Religion (TRLG) +21% May be Going Private
Shares of True Religion are 21% higher4 this morning as all indications are they intend to take the company private after hiring a team to report to the board. The board has formed a special committee to consider options after receiving interest from third parties about a possible transaction, Vernon, California-based True Religion said today in a statement. The company said it hired Guggenheim Securities LLC as its financial adviser and Greenberg Traurig LLP as its legal counsel. A sale to private equity might be more suitable as the company works to build infrastructure to accommodate its “tremendous growth prospects,” Dorothy Lakner, an analyst at Caris & Co. in New York, said today in a telephone interview.
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