Articles > Popular publications > The Boston Globe (Boston, MA) news wires > November 2005

Article: LIZ CLAIBORNE MAKES $366M OFFER FOR J. JILL

Article from:
The Boston Globe (Boston, MA)
Article date:
November 19, 2005
Author:
Copyright

Liz Claiborne Inc. yesterday made an unsolicited $366 million offer to buy J. Jill Group of Quincy and threatened the women's apparel retailer with a hostile takeover if it refused to negotiate a deal.

The news sent J. Jill's shares soaring by about 45 percent, closing at $18.51, a $5.72 increase. Liz Claiborne stock closed up 51 cents to $36.10, about 1.4 percent higher.

J. Jill management, which has rejected bids from Liz Claiborne for more than two years, advised shareholders to take no action at this time. The company said in a statement that its board of directors would review Liz Claiborne's proposal to acquire all of the company's outstanding shares at $18 per share, more than 40 ...

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