|
|
|
|
Document Preview For Immediate Release |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
For Immediate Release |
|||
|
Entities: |
||||
|
Date: |
2001 |
|||
|
Size: |
Preview shows 2KB of 10KB total |
|||
|
Price: |
$40 |
|||
|
ID: |
#393164 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
FOR IMMEDIATE RELEASE
JONES APPAREL GROUP, INC.
CONTACTS:
Jones Apparel Group, Inc. McNaughton Apparel Group Inc.
------------------------- -----------------------------
Wes Card, Chief Financial Officer Peter Boneparth, Chairman and Chief
Anita Britt, Senior Vice President, Executive Officer
Finance and Investor Relations Amanda Bokman, Chief Financial Officer
(215) 785-4000 (212)947-2960
JONES APPAREL GROUP, INC. AND McNAUGHTON APPAREL GROUP INC.
ENTER INTO A MERGER AGREEMENT
NEW YORK, NEW YORK -- April 16, 2001 -- Jones Apparel Group, Inc. (NYSE:JNY)
and McNaughton Apparel Group Inc. (NASDAQ:MAGI) today announced that they have
entered into an agreement pursuant to which Jones will acquire 100% of the
common stock of McNaughton in a merger transaction. McNaughton is a leading
designer, marketer and distributor of women's and junior's moderately-priced
separates and collections of career and casual clothing with net sales of $522
million for the trailing twelve months ended February 3, 2001. McNaughton
markets its products nationwide to department stores, national chains, mass
merchants, and specialty retailers, including J.C. Penney, Kohl's, Federated,
May Department Stores and Sears. Brands include Norton McNaughton, Erika,
Energie, Jamie Scott and Currants.
The transaction is valued at $21.00 per common share of McNaughton, comprised
of $10.50 in cash and approximately $10.50 in stock, based on a fixed exchange
|
End of Preview |
Home Intelligence Services Subscriptions News About Us