Jill gets a proposal

J Jill (JILL) has been rumored to be a target for a while now, as I mentioned in this post. It was made official today, with a $18/share cash offer from Liz Claiborne. Jill has not yet accepted the offer, and the shares are trading above the offer price, indicating that the market expects a higher or competing bid.

This $18/share offer is a premium of around 44%. I will wait for a confirmation to mark this as a hit.

I mentioned other targets in the same earlier post, as well as in another post. Since then, Gap (GPS), Maidenform (MFB), Deckers Outdoors (DECK), Hot Topic (HOTT) have become attractive.

Also, Charlotte Russe (CHIC), Playtex (PYX), Gymboree (GYMB) have appreciated considerably, with Playtex making a number of right moves in selling assets.

Ashworth (ASHW) has come under pressure from a large holder to pursue alternatives, usually a suggestive hint to sell the company.