J. Crew investors approve buyout

By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- J. Crew stockholders agreed to a private equity buyout, the clothing retailer announced Tuesday.

Stockholders of J. Crew Group (JCG) voted to adopt the previously announced merger agreement with Chinos, an affiliate of private equity firms TPG Capital and Leonard Green & Partners.

TPG and Leonard Green will acquire J. Crew stock for $43.50 per share in cash.

The deal is expected to close on March 7.

J. Crew's stock rose 1% on the news. When the deal was announced in November, the stock climbed 16%. To top of page

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