Destination Maternity Drops Bid for British Retailer Mothercare

Destination Maternity, the operator of A Pea in the Pod and Motherhood Maternity stores in the United States, approached Mothercare, a British retailer of maternity and children's products, about a takeover this year but was repeatedly rebuffed. Destination Maternity said late Friday it was abandoning those efforts. Destination Maternity had hoped to join a growing number of American companies that have sought to reincorporate overseas through so-called inversions to avoid higher corporate taxes in the United States. The rush of mergers and acquisitions that provide a base overseas has drawn concern and criticism from politicians in Washington.