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Reuters
Published
Mar 1, 2011
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J Crew working to keep sale from unraveling

By
Reuters
Published
Mar 1, 2011

Feb 28 - J Crew Group Inc, concerned that investors could cast aside a $2.86 billion buyout offer, is lobbying its largest holders to accept it while also pressing its suitors to sweeten their offer, Bloomberg reported on Monday.

J.Crew
Cardigan from J Crew's collection

In November, the upscale apparel retailer announced that TPG Group and Leonard Green & Partners LP had agreed to buy the company for $43.50 a share, at a premium of about 15 percent.

Shareholders are slated to vote on the deal on March 1.

(Reporting by Lisa Baertlein; editing by Gunna Dickson)

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