JCG
J CREW GROUP INC.
JCG is defunct.
  • Mar. 3, 2011, 11:30 AM
    Big leveraged buyouts are back now that attractive financing has returned, TPG Capital's David Bonderman says, noting a deal of $10B-15B is "absolutely possible." TPG is fresh off its deal with Leonard Green to buy J. Crew (JCG), and Bonderman says the "so-called 'wall of debt'" is turning out to be no wall at all.
    | Mar. 3, 2011, 11:30 AM
  • Mar. 1, 2011, 11:01 AM

    J. Crew (JCG +1%) shareholders approve a $3B private buyout by TPG Capital and Leonard Green at $43.50/share, amid speculation that major shareholders might have opposed the deal; only Mason Capital Management, with a 7.5% stake, said publicly it was against the takeover. It's presumably the end for a lawsuit-filled saga.

    | Mar. 1, 2011, 11:01 AM
  • Feb. 28, 2011, 11:42 AM

    Ahead of tomorrow's vote on a $3B leveraged buyout, a concerned subcommittee of J. Crew's (JCG) board is meeting with institutional investors, pressing for yes votes and even a sweetened offer price from the current $43.50/share. The circumstances of the deal with TPG Capital have resulted in more than a dozen lawsuits.

    | Feb. 28, 2011, 11:42 AM
  • Feb. 22, 2011, 4:52 PM

    Institutional Shareholder Services weighs in against J. Crew’s (JCG -0.6%) leveraged buyout, arguing that the bid is too low and the company’s sales process is flawed.

    | Feb. 22, 2011, 4:52 PM
  • Feb. 1, 2011, 2:11 PM

    Shareholders unhappy with a proposed $3B leveraged buyout of J. Crew (JCG -0.9%) reject a settlement that allowed for changes to the deal. Last month, the investor group agreed to settle litigation that claimed they were shortchanged by the proposed sale; they're now pulling support because they say the company undermined the agreed-upon terms of the settlement.

    | Feb. 1, 2011, 2:11 PM
  • Jan. 18, 2011, 7:42 AM
    J. Crew (JCG) is reportedly close to settling a shareholder lawsuit triggered by its $3B buyout deal with TPG Capital and Leonard Green. Sources say plaintiffs will get a $10M payment, and J. Crew will extend its recently-ended 'go-shop' period to Feb. 15.
    | Jan. 18, 2011, 7:42 AM
  • Jan. 5, 2011, 12:23 PM

    J. Crew (JCG +3.8%) spikes on reports that Sears Holdings (SHLD) and Urban Outfitters (URBN) are looking at challenging TPG and Leonard Green (which have offered $3B) for the retailer. The two are reportedly looking at J. Crew's books, as are at least two other private-equity firms, ahead of a Jan. 15 ending to a go-shop period during which bids must be made.

    | Jan. 5, 2011, 12:23 PM
  • Dec. 7, 2010, 8:33 AM

    J. Crew (JCG) CEO Mickey Drexler was in talks to take the company private for nearly seven weeks before he decided to clue in the company's board. Another eyebrow-raising note from yesterday's SEC filing: Goldman advised J. Crew on a possible sale, then switched sides to advise the suitors. (deal details)

    | Dec. 7, 2010, 8:33 AM
  • Nov. 30, 2010, 9:44 AM

    Investors have long resisted management-led buyouts, complaining about lowball offers. But recent deals such as last week's $3B buyout of J. Crew (JCG) show that shareholders may be warming to them. In a volatile, post-recession market, investors seem more eager to lock in a price now rather than take their chances.

    | Nov. 30, 2010, 9:44 AM
  • Nov. 24, 2010, 2:12 PM

    Analyst Brian Sozzi makes the case for Urban Outfitters (URBN +1.6%) as the next private equity target in the retail sector, citing similarities with J. Crew (JCG) - a high-quality name mispriced by the market, plus no bank debt, high return on equity, a portfolio of brands, and more. One drawback: Chairman Richard Haye owns 18.5% of the company and would drive a hard bargain.

    | Nov. 24, 2010, 2:12 PM
  • Nov. 23, 2010, 3:48 PM
    J. Crew Group (JCG): Q3 EPS of $0.58 beats by $0.04. Revenue of $430M (+3.7%) in-line. (PR)
    | Nov. 23, 2010, 3:48 PM
  • Nov. 23, 2010, 1:56 PM

    With the J. Crew (JCG +16.5%) sale now official and Bain Capital's acquisition of Gymboree complete, Nomura's Paul Lejuez says more retail deals are on the way. Among his top picks for a buyout are Abercrombie & Fitch (ANF +2.7%) and Ross Stores (ROST -1.1%) - "companies that act their age, and have international opportunity, flexibility and pricing power."

    | Nov. 23, 2010, 1:56 PM
  • Nov. 23, 2010, 11:03 AM

    J. Crew (JCG) reopens for trading at a premium to the $43.50/share acquisition price. Its buyout deal allows it to explore alternative offers through Jan. 15 of next year. JCG +16.3% to $43.80.

    | Nov. 23, 2010, 11:03 AM
  • Nov. 23, 2010, 10:41 AM

    TPG Capital and Leonard Green & Partners confirm that they will take J.Crew Group (JCG) private for $43.50/share in cash, or about $3B, a 29% premium to its average price over the past month. Shares were +3.2% yesterday, and have risen almost 19% since Oct. 25, as buyout rumors swirled. JCG remains halted.

    | Nov. 23, 2010, 10:41 AM
  • Nov. 23, 2010, 9:10 AM

    Premarket gainers: JCG +18%. PCBC +12%. BWS +10%. CNTF +7%.
    Losers: IRE -30%. AIB -11%. BRCD -9%. HRBN -8%. TKC -6%. ING -5%. ZLC -5%. FRO -4%. STD -4%. LVS -4%.

    | Nov. 23, 2010, 9:10 AM
  • Nov. 23, 2010, 8:07 AM

    J. Crew (JCG) +22% on rumors it's about to go private.

    | Nov. 23, 2010, 8:07 AM