By and and  on March 3, 2014

Fast Retailing Co. Ltd.’s Tadashi Yanai appears ready to spend big time in his drive to become the world’s largest fashion retailer — including up to $5 billion to snap up J. Crew Group Inc. and bring on board his idol, Millard “Mickey” Drexler.

Uniqlo-parent Fast Retailing is in talks to acquire J. Crew from owners TPG and Leonard Green & Partners, and should the talks go smoothly, a deal could be finalized within the next two months, according to a source. Drexler himself would earn a major windfall — he owned 5.4 percent of the retailer in 2010, although sources say he may have increased his stake since then.

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