Jaclyn Inc. (JLN) – A Potential Arbitrage Situation for Investors
Jaclyn Incorporated is a designer, distributor and manufacturer of women and children’s apparel and accessories. They have been in business for over 75 years, and last year had total revenues of $154.5 million. They are currently traded on the AMEX exchange and maintain a market cap of less than $25 million. However, the management of Jaclyn no longer sees a benefit to being publicly traded, and has reported to the American Stock Exchange that it no longer wishes to be listed. The Company intends to withdraw its shares of common stock from listing on the AMEX. The reason for the…