Investing.com - Shares in Abercrombie & Fitch Company (NYSE:ANF) plunged in premarket trade on Monday after the ailing teen fashion retailer said it had “terminated” talks over a potential merger deal.
The announcement came after Abercrombie said in May that it was in preliminary discussions with several bidders regarding a potential sale.
"After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F Board of Directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan," said Executive Chairman Arthur Martinez.
"We believe in the prospects for our business and the opportunities for our brands."