PE Firms Near $2.8 Billion Deal for J Crew Group

TPG Capital and Leonard Green & Partners are close to an agreement to buy the clothing retailer J Crew Group for $2.8 billion, Reuters reported, citing sources familiar with the deal. The deal would value J Crew at $43.50 per share – a 15% premium over the company’s closing price Monday. Reuters said an agreement could be announced as early as Tuesday, when J Crew is expected to report quarterly earnings.

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