Home / Knowledge / News / Fashion / Liz Claiborne to buy out J Jill's outstanding shares

Liz Claiborne to buy out J Jill's outstanding shares

19
Nov '05
Latest fashions provider Liz Claiborne Inc announced that it has made a written offer to acquire all outstanding shares of Women's specialty apparel retailer J Jill Group Inc for $18.00 per share in cash, representing a premium in excess of 40 percent to J. Jill's closing share price on November 17 of $12.79.

Having initiated acquisition discussions with J. Jill over two years ago, Liz Claiborne offered in a letter of March 18, 2005 to J. Jill Chief Executive Officer Gordon Cooke to acquire J. Jill at a premium of over 30 percent at the time.

Cooke flatly rejected the offer even though Liz Claiborne had indicated a willingness to consider a higher price if J. Jill could provide information to justify it. On November 17, Liz Claiborne sent a letter to the J. Jill Board of Directors offering to acquire J. Jill for $18.00 per share in cash.

"Company believe this premium offer represents a compelling opportunity to create value for both J. Jill and Liz Claiborne shareholders," said Paul R. Charron, Chairman and Chief Executive Officer of Liz Claiborne. "Beyond providing J. Jill shareholders immediate liquidity at a significant premium, this strategic combination would enable us to rejuvenate J. Jill's well-regarded but underperforming brand.”

“As part of the larger Liz Claiborne organization, J. Jill would benefit significantly from their product and merchandising expertise, lower sourcing and logistics costs, and increased marketing and advertising support. There would also be enhanced opportunities for J. Jill employees as part of a larger and stronger company. They call on J. Jill's Board to sit down with us immediately to negotiate a mutually beneficial transaction."


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

African fashion has a strong identity

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search