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.

An NBC New York story points to a recent New Yorker profile of Drexler, which “highlighted his focus on value as the brand’s foundation.” While it’s yet hard to say what that could mean in terms of the company’s future, J. Crew shares suggest investors “expect a richer offer to emerge,” according to a Reuters story.

[Image via JCrew.com]