Shares of Ann Jump 12% Amid Buyout Speculation

Shares of Ann Inc (NYSE: ANN) jumped over 12 percent in after-hours trading amid a report that Golden Gate Capital may acquire the company.

According to Reuters, the deal would value the company at approximately $2 billion versus its market cap of $1.72 billion.

A deal could be completed as early as next week, according to sources speaking to Reuters, however, there was still no certainty that a deal would come together successfully.

Based on the sources, Ann would be open to an offer in the low $40 range.

Neither Ann or Golden Gate had commented on the report.

Ann traded at $41.79 in the after-hours session, up 11.8 percent.