Dabah looks to move back into Children's Place

Ezra Dabah may no longer be the CEO of Children's Place Retail Inc., but he still wants to control the company. The former CEO, and current board member, who currently owns 17.2% of Children's Place, offered $24 a share Thursday for the company.

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The retailer has been slumping over the last year and a half with slow sales and in October hired Lehman Brothers Inc. to review its strategic alternatives. When it comes to dealmaking, Dabah is no stranger. Under his auspices, Children's Place acquired Walt Disney Co.'s retail store chain in the U.S. and Canada in October 2004 for an undisclosed amount. The addition never lived up to expectations amid strong retail competition, and now with a recession looming, prospects for a Children's Place turnaround seems more daunting.

See the full story from The Daily Deal on TheDeal.com. - Gerald Magpily

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