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J. Crew makes deal to be taken private for $3 billion | TribLIVE.com
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J. Crew makes deal to be taken private for $3 billion

J. Crew says it will be taken private in a $3 billion deal with two investment firms, including its former parent.

Shareholders will receive $43.50 per share from private equity firms TPG Capital and Leonard Green & Partners. That is a 16 percent premium to the stock’s closing price of $37.65.

CEO Mickey Drexler, the former Gap Inc. chief credited with turning J. Crew around around since coming aboard in 2003, will remain in that role and retain a stake in the retailer.

TPG took a majority stake in J. Crew Group Inc. in 1997 and remained majority shareholder until the company went public in 2006.


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