Activist Clinton Mulling Wet Seal Takeover Play

Law360, New York (December 18, 2013, 1:27 PM EST) -- Wet Seal Inc. could face a buyout campaign from Clinton Group Inc., the activist hedge fund that said Wednesday that it could pursue a take-private transaction itself after urging the flagging mall retailer for more than a year to find a buyer.

New York-based Clinton said it had boosted its Wet Seal to 8.1 percent, cementing its place as one of the company's largest shareholders. In a brief securities filing, the investor said it is sniffing out financing alternatives that would allow it or one of...
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