By  on April 4, 2012

NEW YORK — Bernard Chaus Inc. said Tuesday night it has reached a definitive merger agreement with an affiliate of Vince Camuto, whereby Camuto will acquire the shares of Chaus not owned by members of the Chaus family for 21 cents a share in cash.

Chaus has also reached a settlement in connection with certain shareholder claims and objections to the transaction. The 21 cents a share represents an 88 percent premium over the average of the bid and asking prices for the company’s common stock for the last 10 trading days. Camuto proposed to acquire Chaus for 13 cents a share on Sept. 16.

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