J Crew Group agrees to $3 Billion acquisition deal
Thursday, 25 November 2010, 06:47 IST
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New York: Clothing retailer J Crew Group has agreed to be bought by two private equity firms TPG Capital and Leonard Green & Partners for about $3 billion. J Crew Group Inc said in a statement that it has entered into a definitive agreement to be acquired by funds affiliated with TPG Capital and Leonard Green & Partners. Under the terms of the agreement, shareholders of J Crew will receive $43.50 pershare in cash, or a total of about $3 billion. This represents a premium of 29 per cent to J Crew's average closing share price over the last month.
Source: PTI
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