Private-equity firms KKR & Co LP and Sycamore Partners are considering a joint bid for Jones Group, the fashion and footwear company that owns retail chains Nine West and Jones New York, the Wall Street Journal reported, citing people familiar with the matter. A number of other private-equity and industry players are considering offers for parts of the company, the paper said.Reuters reported in July that Jones Group had hired Citigroup Inc to explore a potential sale and that the company was in the early stages of reaching out to private equity and industry players to gauge interest in buying it as a whole or in piecesSecond-round offers for the New York-based company is due within the next two weeks and a deal could follow soon after that, assuming one is struck at all, the paper added.Jones Group, Sycamore Partners and KKR declined to comment.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C fell by 0.7% or $-0.36/share to $50.73. In the past year, the shares have traded as low as $31.88 and as high as $53.56. On average, 26832200 shares of C exchange hands on a given day and today's volume is recorded at 22249872.
Source
