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Slide #16. The Jones Group Inc. — Sycamore Partners
The Jones Group Inc. (JNY)
The Jones Group Inc. (NYSE: JNY) ("The Jones Group" or the "Company") announced that, at today's special meeting, The Jones Group shareholders overwhelmingly voted to approve the agreement pursuant to which affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash, or a total transaction value of approximately $2.2 billion. With today's approval of the proposals by The Jones Group shareholders, The Jones Group Inc. and Sycamore Partners have received all requisite approvals required to complete the transaction. The companies are committed to a seamless transition and expect to close the transaction promptly.
Jones Group is a designer, marketer, and wholesaler of over 35 brands with products in apparel, footwear, jeanswear, jewelry and handbags. Co. also markets directly to consumers through its specialty retail and outlet stores, department stores and through its e-commerce sites. Co.'s operations consist of six segments: domestic wholesale sportswear, domestic wholesale jeanswear, domestic wholesale footwear and accessories, domestic retail, international wholesale and international retail. Co.'s brands include: Nine West, Jones New York, Robert Rodriguez, and Robbi & Nikki, among others. As of Dec 31 2012, Co. operated a total of 247 specialty retail stores and a total of 454 outlet stores.
Open the JNY Page at The Online Investor »
Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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