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Peter J. Solomon: Wasn't Hired by Children's Place

Peter J. Solomon said Friday that Children's Place Retail Stores had not hired the mergers and acquisitions advisory firm, disputing a Fortune magazine story that had sent the chain's shares higher.

The magazine reported that Children's Place had hired the firm to put it up for sale, citing two people familiar with the company's plans. But Solomon spokeswoman Diane Coffey said the firm was not hired.

Officials at Children's Place were not immediately available to comment.

Shares of Children's Place , which sells clothing for babies and children, were up 4.4 percent at $23.75. Earlier the stock had been up as much as 12 percent.