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99 Cents Only in $1.6 billion buyout
Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.
The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.
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Jones Group considering sale of denim division
New York City -- Apparel manufacturer and retailer The Jones Group confirmed Tuesday that it is in discussions to divest its jeanswear division for between $350 million to $400 million.
The potential buyer is Israeli clothing maker Delta Galil Industries.
Jones Group, whose brands include Anne Klein and Nine West, said talks should conclude within a month, but cautioned that no deal has been reached. If the two were to reach a deal, Jones said it would use net proceeds for share repurchases.