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A ‘SHHH’ MOMENT FOR JA APPAREL: The sale of JA Apparel Corp. to Iconix Brand Group Inc. is still proceeding, although new rumblings have hit the marketplace that HMX Group is waiting in the wings after supposedly expressing interest in acquiring all of JA Apparel. HMX Group since mid-June was also interested in becoming the tailored clothing licensee. According to sources, Iconix is still the odds-on favorite to acquire the firm, for around $85 million, from J.W. Childs Associates, the private equity firm that owns JA Apparel.
One reason for the paucity of information, those sources said, is that the transaction has entered the so-called “quiet period.” In financial parlance, that’s the time period that restricts who can speak with whom before an acquisition is announced, suggesting that the sale process is moving closer to a conclusion.