Proskauer served as legal counsel to Ascena Retail Group in its pending $890 million purchase of Charming Shoppes, Inc.

Under a definitive agreement reached by the two companies, Ascena will offer $7.35 each for all outstanding Charming Shoppes shares. The tender offer is expected to commence on or before May 15, 2012. Subject to customary conditions and approvals, the transaction is expected to close during the second quarter of 2012. 

Ascena Retail Group, a leading national specialty retailer of apparel for women and tween girls, is the parent company of the dressbarn, maurices and Justice brands. Charming Shoppes specializes in women’s plus-size apparel, and is the parent company of Lane Bryant, Catherines Plus Sizes and Fashion Bug. 

Leading the Proskauer team on the transaction were Partners Steven L. Kirshenbaum and Julie M. Allen. They were assisted by Partners Solomon L. Warhaftig, Andrea S. Rattner, Paul M. Hamburger, Ron D. Franklin, Frank Lopez, Daryn A. Grossman, Kristen J. Mathews, Perry A. Cacace, Hank L. Goldsmith, Howard Z. Robbins, Seth B. Schafler and Colin Kass; Senior Counsel Todd B. Castleton, Gail S. Port and Jenifer deWolf Paine; Special Counsel John R. Ingrassia; and Associates Michael E. Ellis, Megha H. Parekh, Julie J. Kim, Shauna Bracher, Martin T. Hamilton, Daniel J. Berger, Stephen I. Brecher, William PC Fogleman, Heather R. Stone, Yelena Simonyuk, Joseph Choi , Karen Y. Mo, Andrew R. Shapiro, Ryan D. Searfoorce, Jessica M. Weitzman, Tiffany Comprés and William H. Weisman.