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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"