Sycamore Partners and the Private equity giant KKR & Co LP are in talk to acquire retailer Jones Group as soon as this week, according to the New York Post reported and sources.
The private-equity firms want to put an end to an auction for the fashion and footwear company, which owns retail chains Nine West and Jones New York, run by Citigroup Inc. The auction has attracted bids from several buyout shops, including Leonard Green & Partners, Sun Capital and Golden Gate Capital, the Post said.
“The goal is to have it wrapped up before the deadline” for second-round bids, a source close to the process told the Post, noting that the deadline is this week.
The Post did not report the size of the offer but said investors have speculated that Jones could fetch between $17 and $18 per share. The shares closed at $15.68 on the New York Stock Exchange on Monday. Source
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