NEW YORK — Shareholders of The Jones Group Inc. will vote April 7 on Sycamore Partners’ offer to acquire Jones for $15 a share in cash, or about $2.2 billion.
The special meeting, to be held at the offices of Jones’ counsel, Cravath, Swaine & Moore LLP, at 825 Eighth Avenue here, will be open to all Jones shareholders of record as of Wednesday. It’s scheduled to begin at 2 p.m.
The parties agreed to terms of the deal on Dec. 19. The equity portion of the transaction is about $1.2 billion, with the remaining $1 billion coming from the assumption of debt.
Private equity firm Sycamore has stakes in retailers including Hot Topic and Talbots.
The deal is expected to be completed in the second quarter of this year. Upon completion, Stuart Weitzman, Kurt Geiger and Jones branded apparel will be carved out as independent businesses, with the remainder of the firm, including brands such as Nine West and Gloria Vanderbilt, set to be renamed Nine West Holdings Inc.
Last year, Jones had a net loss of $19.8 million, or 26 cents a diluted share, as revenues declined 0.9 percent to $3.76 billion.