Ann Inc. (ANN) is exploring a possible sale of the women's retailer and has tapped J.P. Morgan Chase & Co. (JPM) to explore strategic alternatives, Reuters reported Tuesday, citing people familiar with the matter.

The hiring comes as hedge funds Engine Capital and Red Alder LLC are pressing the Ann Taylor parent to consider selling itself to private equity firms or a large international retailer, the report said.

Full story at http://www.cnbc.com/id/101948275

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