USA: Intimate Brands Shareholders Urged To Accept Offer
The owner of leading lingerie chain Victoria's Secret, Intimate Brands Inc, on Tuesday recommended its shareholders accept the $1.5 billion takeover offer from The Limited Inc. A special committee of Intimate Brands directors recommended shareholders back the offer, which would see each Intimate Brands share exchanged for 1.1 Limited shares, a five per cent rise from the original offer of 1.046 shares.