NEW YORK — Shares of The Jones Group Inc. rose 4 percent Wednesday to close at $15.11 in Big Board trading following a report that private equity firms KKR & Co. and Sycamore Partners were considering a joint bid for the apparel firm.
Two sources close to the process confirmed that the private equity firms were working together and one of these sources said the pair had submitted a first-round bid for Jones over the summer. Executives at KKR and Sycamore declined comment. RELATED STORY: Bidding Begins on Jones Group >>
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