JNY Jones Grp.

Jones Group Inc. (JNY) is in advanced talks to be sold to Sycamore Partners LLC for about $1.3 billion, or $16 a share, Reuters reported Friday on its website, citing people familiar with the process.

A deal could come in the next few weeks although Sycamore is still arranging financing, two people told Reuters. The retailer last summer hired Citigroup Inc. (C) to explore a sale.

Jones Group and Sycamore declined comment to Reuters.

Full story at: www.reuters.com/article/2013/11/22/jonesgroup-sycamore-idUSL2N0J71XS20131122

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