It looks like another major retailer is going private. Twoprivate-equity firms, TPG Group and Leonard Green & Partners,are offering to acquire J Crew and its 220 stores for $2.86 billion,or $43.50 per share. The proposal follows the recent acquisition of Gymboree for about $1.8billion.
The TPG-Leonard Green deal could get run up. Other suitors haveuntil Jan. 15 to make a better offer.
J Crew is one of the success stories of the recession, and CEOMillard Drexler, is one of the most respected figures in the retailindustry.
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