buy out

Speaking of $JCG...

In the wake of their Saturday deadline, J.Crew recieved no additional takeover bids during their "go shop" period a provision that is frequently included in leverage buyout deals (the deadline for other potential companies to throw in their hats was on the 15th). Well today, the retailer announced they would be extending the deadline to February 15th for other/rival bids and to settle a shareholder lawsuit. As it stands, TPG Capital and Leonard Green have been the only ones to come to the table so far with a $3 billion offer. There was some talk about $SHLD and $URBN possibly throwing their hats in (it was reported by DealBook both retailers had signed confidential agreements to study J.Crew's books during the solicitation period) but it was unclear whether they were seriously considering counteroffers.