Cravath, Cleary Rep J. Crew in $3B Buyout Deal

Law360, New York (November 23, 2010, 3:11 PM EST) -- Private equity firms TPG Capital and Leonard Green & Partners LP have reached an agreement to acquire clothing retailer J. Crew Group Inc. in an all-cash deal valued at $3 billion.

 

Under the terms of the agreement announced Tuesday, J. Crew shareholders will receive $43.50 per share in cash.  The agreed-upon price represents a premium of 29 percent over J. Crew’s average closing share price over the last month.

 

A special committee of the J. Crew board of directors negotiated the deal. The agreement...
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