Sears and Urban Outfitters Might Submit Bids for J.Crew

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Photo: Konstantin Sergeyev

When one person wants you, they all do. And so Sears and Urban Outfitters might try to scoop up J.Crew, after the company announced plans to go private with a $2.8 billion sale to private equity firms TPG Group and Leonard Green & Partners LP. "Three people with knowledge of the matter" tell Bloomberg that Sears and Urban are "studying J.Crew's books," though neither would say if they plan to make a bid. The bids must be submitted by January 15, however, which is when J.Crew's official shopping-around period ends. One analyst says that Sears and Urban's idea doesn't make sense.

Sears, Urban Outfitters Said to Weigh J. Crew Bids [Bloomberg]