Analysts Say True Religion Is Negotiating SaleTuesday, February 5, 2013
Analysts at Benchmark Co. in New York have said they believe Vernon denim maker True Religion Apparel Inc. is currently negotiating a sale of the company, likely to a private equity firm.
In a research note on Monday, Benchmark analysts reiterated their buy rating on shares of True Religion stock, saying investors are more concerned with the impending sale of the jeans company than with fourth quarter results, which will be released after the market close on Wednesday.
True Religion announced last year that its board had formed a committee to explore strategic alternatives after receiving interest from third parties. Guggenheim Securities LLC is serving as financial adviser to the company, and Greenberg Traurig LLP as legal counsel.