No Takers For J.Crew {except TPG & Leonard Green}

J.Crew's deal to go private is a hot topic discussed on this blog (refer here, here, here and here). The following is an article from Reuters (click here to read in its entirety):

J.Crew received no rival takeover bids: source
By Jessica Hall
January 16, 2011

J.Crew Group Inc received no rival takeover bids during its "go shop" period and will remain with its original $2.86 billion buyout offer from TPG and Leonard Green, a source familiar with the situation said on Sunday.

Sears Holdings Corp, Urban Outfitters Inc and at least two other private equity firms had been looking at the financial books of J.Crew during the "go shop" period that allowed J.Crew to solicit other suitors, sources previously told Reuters.

Well this is quite the news! I am happy to hear that both Sears and Urban Outfitters have no plans to acquire J.Crew. (I just didn't see it working out, not well at least.) As someone mentioned in another post, maybe Sears & UO were using the old "possible-bid-excuse" to check out J.Crew's financial figures. Sneaky. ;)

With just TPG & Leondard Green's offer on the table, J.Crew's CEO Mickey Drexler is breathing a bit easier now. (Of course, there are those pesky stockholder lawsuits to still worry about.)

What are your thoughts on this latest news? Do you think Urban Outfitters or Sears were ever really interested in acquiring J.Crew? Do you think going private is still the right move for J.Crew?