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J. Crew says it will be taken private in a deal with two investment firms, including its former parent, worth $3 billion.
The preppy retailer will receive $43.50 per share to private equity firms TPG Capital and Leonard Green & Partners, confirming media reports Monday. That is a 16 percent premium to the stock’s closing price of $37.65. Get the full story »
Gap Inc.’s fiscal third-quarter profit fell 1.3 percent, though share repurchases boosted the the casual-apparel retailer’s per-share earnings.
But shares of Gap, which affirmed its fiscal-year outlook, were down 2.1 percent, at $20.47, after hours as margins fell and the company said it would close fewer stores than previously planned. Get the full story »
