J. Crew Group Inc (JCG.N) will once again be a private company after shareholders approved a $2.86 billion deal for the retailer to be acquired by TPG Capital [TPG.UL] and Leonard Green & Partners LP. Private equity firms TPG and Leonard Green will buy all of J. Crew's outstanding common stock for $43.50 per share in a transaction that should close on or around March 7, the retailer said. The deal was announced in November. [ID:nN23136502] The vote passed despite a recommendation against the deal by influential proxy advisory Institutional Shareholders Services Inc. [ID:nN22130645]
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