FAST RETAILING CO LTD (FAST RETAILING) has submitted a definitive proposal to acquire Barneys New York (Barneys) from Jones Apparel Group Inc (Jones) for $900 million (approximately 110 billion yen) in cash. This proposal was approved at an extraordinary board meeting on July 30, 2007.
FAST RETAILING has a high regard for the Barneys brand and for its management and creative teams. FAST RETAILING is committed to supporting Barneys’ continued growth and unique position as one of the leading luxury department store brands in the world.
FAST RETAILING’s offer is conditioned on execution of a mutually acceptable purchase agreement. It is not subject to financing and can be consummated on an expedited basis.
FAST RETAILING has a high regard for the Barneys brand and for its management and creative teams. FAST RETAILING is committed to supporting Barneys’ continued growth and unique position as one of the leading luxury department store brands in the world.
FAST RETAILING’s offer is conditioned on execution of a mutually acceptable purchase agreement. It is not subject to financing and can be consummated on an expedited basis.
