J. Crew/TPG Capital and Leonard Green & Partners
On November 23, 2010, J.Crew Group, Inc. (NYSE: JCG) announced that they have entered into an agreement with TPG Capital and Leonard Green & Partners, L.P. whereby J. Crew will be acquired by the equity firms for a consideration of $43.50 per outstanding common share in cash. Total consideration on the deal is $3 billion.
The investor group has secured committed financing from Bank of America Merrill Lynch and Goldman Sachs Bank USA.
J. Crew's Special Committee has been given until January 15, 2011, as a "go shop" period.
The transaction is expected to close in H111
The Special Committee was advised by an independent financial advisor, Perella Weinberg Partners LP, and an independent legal advisor, Cravath, Swaine & Moore LLP.
Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor to J.Crew. Goldman, Sachs & Co. and Bank of America Merrill Lynch are acting as financial advisors to TPG Capital and Leonard Green & Partners.
Ropes & Gray LLP is acting as legal advisor to TPG Capital and Latham & Watkins is acting as legal advisor to Leonard Green & Partners.
The investor group has secured committed financing from Bank of America Merrill Lynch and Goldman Sachs Bank USA.
J. Crew's Special Committee has been given until January 15, 2011, as a "go shop" period.
The transaction is expected to close in H111
The Special Committee was advised by an independent financial advisor, Perella Weinberg Partners LP, and an independent legal advisor, Cravath, Swaine & Moore LLP.
Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor to J.Crew. Goldman, Sachs & Co. and Bank of America Merrill Lynch are acting as financial advisors to TPG Capital and Leonard Green & Partners.
Ropes & Gray LLP is acting as legal advisor to TPG Capital and Latham & Watkins is acting as legal advisor to Leonard Green & Partners.
