Sycamore Continues Talk to Acquire Jones Group

Sycamore Partners LLC is in advanced talks to acquire The Jones Group Inc. JNY in the next couple weeks, according to Reuters.

KKR & Co LP, a private equity firm, previously partnered with Sycamore to bid for the entity of Jones Group. In September the tentative bid was dropped.

On Oct. 30th, New York Post business reporter James Covert tweeted that "Sycamore Partners bidding against G-III for Jones Group in auction that could fetch between $1.2B and $1.3B - sources."

In recent weeks, G-III Apparel Group GIII dropped out of the bidding.

Sycamore is looking to buy Jones Group for approximately $1.3 billion, or less than $16 per share. According to Reuters, Sycamore is in the process of working on the financials with Guggenheim Partners to make the purchase of this complex deal structure.

The Jones Group owns many brands and Sycamore "may want to offload some of these labels to other buyers, " according to Reuter's source.