An agreement to buy the company could be reached as soon as this week, said the New York Post, citing sources.
“The goal is to have it wrapped up before the deadline (for second round bids),” a source close to the process told the publication.
A deal could value the business at $17 to $18 per share compared to the current share price of $15.68, which gives it a market cap of $1.15bn.
KKR is interested in Jones’s fast growing footwear brands including Kurt Geiger and Brian Atwood, while Sycamore is looking to buy aging women’s apparel brands such as Anne Klein and Gloria Vanderbilt, sources briefed on the auction process told the Post.
A banking source said, “KKR basically wants the good stuff, and Sycamore wants the not-so-good stuff.”
Earlier this month it was reported that KKR and Sycamore were considering a joint bid for the business.
Copyright © 2013 AltAssets