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07.04.2014 23:06:25
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Jones Group Shareholders Agree To Be Taken Private By Sycamore
(RTTNews) - Apparel company Jones Group Inc. (JNY), Monday said its shareholders have approved its merger with affiliates of Sycamore Partners.
With the shareholder approval, Jones Group and Sycamore Partners have cleared all hurdles and received all required approvals to complete deal. The companies expect to close the transaction promptly.
In December last year, Jones Group agreed to be taken private by affiliates of Sycamore Partners for about $1.2 billion or $15.00 per share in cash. Assuming net debt, the transaction is valued at about $2.2 billion.
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