US: J Crew silent over end to deal talks with Fast Retailing
Earlier this month, Fast Retailing was reported to have approached J Crew about potentially buying the private-equity-owned business, according to Reuters. J Crew was taken private by TPG Capital and Leonard Green & Partners in 2011 in a deal worth US$3bn.
However, merger discussions are understood to have broken down, reducing the prospects of a deal that would create a global retailing behemoth.
According to The Wall Street Journal, Fast Retailing, which owns the Uniqlo clothing chain, walked away from discussions soon after initial reports of a potential deal emerged last month. Sources told the publication the reason may have been linked to the talks being made public. Another suggestion is that a second bidder may have stepped in.
South Korean fashion conglomerate E.Land Group was said to be exploring a deal for J Crew.
Fast Retailing Co Ltd aims to strengthen its position overseas to become the world’s number one apparel manufacturer and retailer. The company announced that it has a target to achieve annual group sa...
Fast Retailing aspires to become the world’s largest clothing company by 2020. International expansion will be key to achieving this goal. While the company has successfully expanded in Asia, gaining ...
Fast Retailing aims to become the world’s largest apparel company by 2020. The company has been very successful in Greater China, but continues to struggle in other markets and its US super premium de...
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