The Jones Group Inc. announced that it has scheduled a special meeting of The Jones Group shareholders for April 7, 2014 at 2:00 p.m. Eastern Time, at the offices of Cravath, Swaine & Moore LLP at 825 Eighth Avenue, 38th Floor, New York, New York to consider and vote upon the previously announced agreement entered into with Sycamore Partners on December 19, 2013, pursuant to which, subject to the satisfaction of various conditions set forth therein, affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash.
The Jones Group shareholders of record as of the close of business on March 5, 2014 will be entitled to receive notice of, and vote at, the special meeting.
If the merger agreement is adopted at the special meeting, the Company expects the transaction to be completed in the second quarter of 2014, subject to the satisfaction of the other conditions set forth in the merger agreement.
Citigroup Global Markets, Inc. is acting as financial advisor to The Jones Group and Peter J. Solomon Company is acting as financial advisor to the Company's Board of Directors. Cravath, Swaine & Moore LLP is acting as legal advisor to The Jones Group and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to the independent directors of the Company's Board of Directors.
About The Jones Group Inc.
The Jones Group Inc. is a leading global designer, marketer and wholesaler of over 35 brands with product expertise in apparel, footwear, jeanswear, jewelry and handbags. The Jones Group has a reputation for innovation, excellence in product quality and value, operational execution and talent.