Olshan Clients Engine Capital and Red Alder Target Ann Taylor

The New York Times, The Wall Street Journal, Law360 and other media sources covered the increasing activist interest in the retail sector, focusing on Olshan clients Engine Capital and Red Alder’s recent activity in connection with Ann, Inc.  Engine, along with Red Alder, holds "in excess of 1 percent" of Ann's shares. They have been urging Ann behind closed doors to sell itself and believe Ann could be sold for up to $2.5 billion, which could bring in at least $50 to $55 per share, delivering a premium of more than 40 percent over Ann’s recent trading prices. Engine and Red Alder went public with their calls for change after Ann made little movement toward the suggested sale. This is the highest-profile campaign brought by Engine and Red Alder since their respective launches by Arnaud Ajdler, a former senior managing director at Crescendo Partners and Schuster Tanger, formerly of Daniel Loeb's Third Point LLC and Goldman Sachs. Olshan Partners Steve Wolosky and Andrew Freedman represent Engine and Red Alder.