Activist hedge fund Clinton Group said it was exploring financing options for a possible takeover of women's apparel retailer Wet Seal Inc.
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Clinton Group had a 7.78 percent stake in Wet Seal as of Dec. 17, the company said in a regulatory filing on Wednesday. (http://r.reuters.com/tyn55v)
Wet Seal's shares rose as much as 6 percent to $2.77 on the Nasdaq in early trading.