J. Jill Approves Talbots Takeover

QUINCY, MA-Shareholders of women’s fashion retailer J. Jill Group Inc. have approved the merger that will allow Talbots to purchase the company for $517 million, or $24.05 per share. The results of the vote were reported during a special stockholder meeting held today.

Arnold B. Zetcher, Talbots chairman, president and CEO, said in February that the brands would maintain distinct identities in the event of a merger. “Our current plan is to continue to operate separately areas such as merchandising, stores, catalog, web, marketing, visual and store design,” Zetcher said during the initial announcement. “At the same time, we believe we will benefit individually and collectively from the combined talent and expertise of our dedicated associates in both organizations.”