Kekst & Co. is handling beleaguered retailer Abercrombie & Fitch's decision not to shop itself.
The company, which lost $61M on $661M first-quarter revenue, had been discussing a potential transaction with several suitors.
Those talks have been put on ice.
"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," Arthur Martinez, executive chairman, said in a statement.
A&F is upbeat about remaining independent due to "solid comparable store sales momentum" at its Hollister brand, as well as "strategies to position the Abercrombie brand for revitalized performance."
Martinez anticipates A&F's "sound aggressive action" will deliver "enhanced performance and long-term stockholder value."
Dawn Dover of Kekst represents A&F.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
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ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
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