February 6, 2006
Apparel retailer Talbots, Inc. announces merger agreement, whereby it will acquire all outstanding shares of The J. Jill Group, a multi-channel specialty retailer of women's apparel.
On February 6, apparel retailer Talbots, Inc. announced that it has signed a definitive merger agreement, whereby it will acquire all outstanding shares of The J. Jill Group, a multi-channel specialty retailer of women's apparel, for $24.05 per share, in cash, or approximately $517 million. Willkie assisted Peter J. Solomon Company, financial advisor to J. Jill, in this transaction. Talbots is a leading national specialty retailer and cataloger of women's, children's and men's classic apparel, shoes and accessories. The combined company will be a leading multi-channel specialty retailer targeting the age 35+ market with 2005 pro forma annual revenues of approximately $2.3 billion, and 1,283 stores in 47 states, the District of Columbia, Canada and the U.K. The deal was handled by partner Steven Seidman and associates Laura Delanoy, David Posner and David Mrazik.
