USA: Jones Apparel Agrees To Buy Lei For $385m
US clothing giant Jones Apparel Group Inc is to acquire the producer of lei jeans for $385 million as it looks to strengthen its hand in the fast-growing teen clothing market, it announced on Wednesday.
The deal for RSV Sport Inc and its related companies, lei, includes one million shares of Jones stock, valued at $37.5m, and $272.5m in cash, the New York-based firm revealed in a news release.