Intimate Brands has recommended its shareholders accept a $1.5 billion takeover offer from majority shareholder Limited Inc.
A special committee said in a statement that shareholders should support Limited’s offer to exchange 1.1 shares of Limited stock for each outstanding Intimate Brands share.
The offer is about 12% higher than where the stock was trading when Limited first offered to buy Intimate Brands on Feb. 4.
The Limited’s offer was made subject to certain conditions. It expires on March 20.
