As the activist-targeted REIT allegedly turns away bidders, chairman Bill Mack and his family have been trying to put together their own bid to take the company private, according to a source familiar with the situation.
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The embattled retailer shakes up its board and sells 55% of the lingerie chain for $525 million to the buyout firm just as a standstill agreement with activist Jim Mitarotonda and his Barington Capital was set to expire.
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