By  on February 22, 2011

J. Crew Group Inc. is now trading barbs with Institutional Shareholder Services Inc., an influential investor advisory firm, which recommended shareholders vote against the retailer’s $3 billion deal to be taken private by TPG Capital and Leonard Green & Partners.

ISS said there was a “less-than-compelling strategic rationale to sell the company at a lower-than-prevalent market premium,” as well as “serious issues in the sales process that gave TPG a significant advantage.” Shareholders will vote on the deal at a special meeting March 1.

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