J. Crew Holiday Sale: Sweaters, Accessories, The Company
J. Crew is in the news for a different kind of sale this holiday season. Set to be acquired by private investment firms TPG Capital and Leonard Green & Partners for $3 billion, the company is open to offers until January 15 amidst shareholder scrutiny.
An investor filed a lawsuit at the end of last month against the company’s officers and directors, alleging “an unfair and self-serving” sales process. A Wall Street Journal story reports that potential sale talks had been underway for “nearly seven weeks” before CEO Millard “Mickey” Drexler told the board.
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