JCPenny (JCP) Confirms Acquisition Offer on Liz Claiborne Brands (LIZ)
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J. C. Penney Company, Inc. (NYSE: JCP) today announced that it has reached an asset purchase agreement with Liz Claiborne Inc. (NYSE: LIZ).
Under this agreement, the Company will acquire the worldwide rights for the Liz Claiborne family of brands as well as the U.S. and Puerto Rico rights for the Monet brand for $267.5 million.
Under this agreement, the Company will acquire the worldwide rights for the Liz Claiborne family of brands as well as the U.S. and Puerto Rico rights for the Monet brand for $267.5 million.
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