The Jones Group’s $2.2 Billion Acquisition by Sycamore Partners

On December 19, 2013, The Jones Group Inc. and Sycamore Partners announced that they have entered into a definitive agreement pursuant to which affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash, or a total of approximately US$1.2 billion. The transaction is valued at approximately US$2.2 billion, including net debt. Cravath represented The Jones Group in connection with this transaction. Upon completion of the transaction, which is expected to close in the second quarter of 2014, The Jones Group will become a privately held company.

The Cravath team included partner George F. Schoen and associates Nicholas A. Dorsey and Jacquelyn N. Arcati on M&A matters; partner Eric W. Hilfers and associate Jonathan J. Katz on executive compensation and benefits matters; partner J. Leonard Teti II and associates Andrew Carlon and Stephen R. Severo on tax matters; partners William V. Fogg and Stephen M. Kessing on finance matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorneys Gary R. Eisenman and Joyce Law on real estate matters. Debra M. Aboodi and Edmund Mokhtarian also worked on corporate matters and Julia L. Onorato also worked on executive compensation and benefits matters.