Liz Claiborne Inc. on Friday made an unsolicited $18 per share bid to buy apparel chain J. Jill Group Inc. after previous friendly offers were spurned.
The offer price represents a nearly 41 percent premium over J. Jill’s closing price of $12.79 on Thursday. J. Jill’s directors asked shareholders to take no action at this time, and said it would meet to review and discuss the proposal.
