J. Crew Extends Deadline for Bids
In order to settle a lawsuit, the retail chain J. Crew Group has left open until Feb. 15 the “go-shop” deadline to receive counteroffers to take the company private. Currently on the table is a $3 billion bid from a private-equity team led by J. Crew Chief Executive Millard Drexler. Drexler has faced criticism for negotiating the sale of the company for seven weeks before informing the board of directors of the talks.
