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Knitting / Apparel

Jones Apparel Finalizes Barneys Acquisition

Jones Apparel Group Inc. and Barneys New York Inc., both based in New York City, have finalized a merger agreement worth nearly $400 million, including cash consideration of $19 per share to Barneys' stockholders totaling $291.3 million. Barneys Chairman, President and CEO Howard Socol will continue to lead the company, and also will lead an expansion effort currently underway.

January 2005