Debt investors are funneling 17 times more cash into hedge funds than into junk-bond funds that returned more in each year since the crisis, heralding a shift from chasing yields to preserving cash as interest rates rise.
In 1997, Josh Weston persuaded the founder of J. Crew Group Inc. to sell the company to TPG Capital. Now, he’s heading the special board committee that approved TPG’s offer to again buy the apparel retailer.
Sears Holdings Corp. and Urban Outfitters Inc . are weighing rival bids for clothing retailer J. Crew Group Inc. in a potential challenge to TPG Capital and Leonard Green & Partners LP’s $3 billion buyout, said three people with knowledge of the matter.
Mickey Drexler put $10 million of his own money into J. Crew Group Inc. when he took over its top job in 2003. As he overhauled the New York retailer, he personally reviewed every item of clothing sold, every model in the catalog and every new employee.
Altria Group Inc., the largest cigarette maker in the U.S., led borrowers selling or planning to issue at least $8.3 billion of dollar-denominated bonds today as it raised $3.2 billion to help fund a tender offer.
J. Crew Group Inc. ’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP fell apart, a lawyer for the shareholders said.
J. Crew Group Inc. is concerned that shareholders may reject its $3 billion buyout and is holding last-minute meetings to convince large, institutional investors to vote in favor of the deal tomorrow, said three people familiar with the matter.
J. Crew Group Inc. agreed to be acquired by TPG Capital and Leonard Green & Partners in a transaction valued at about $3 billion, giving the buyout firms the New York-based retailer’s namesake and Madewell brands.