NEW YORK (Reuters) - Children's Place Retail Stores Inc's
The $24 price would represent a 35 percent premium to Children's Place shares' $17.78 closing Wednesday price. Dabah said he had received interest from private equity firm Golden Gate Capital to be a participant in the deal.
Dabah, who said in a filing with the U.S. Securities and Exchange Commission that he owns 17.2 percent of the children's clothing retailer's shares, had resigned as CEO last September after an internal probe found he did not comply with the company's securities-trading policies.
Wall Street on average had been expecting a same-store sales gain of 2.5 percent, according to Reuters Estimates.
Children's Place also said it has been notified by Nasdaq that its stock was subject to delisting because of its failure to hold its fiscal 2006 annual meeting by February 3.
The company had to delay its meeting because it was late in filing its 2006 annual report.
(Reporting by Brad Dorfman and Martinne Geller; Editing by Lisa Von Ahn and Gerald E. McCormick)
