Maxwell Shoe (NASDAQ:MAXS)
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Jones Apparel Group Extends Tender Offer for Maxwell Shoe Company
Inc. Until May 17, 2004
NEW YORK, April 19 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
("Jones") today announced that MSC Acquisition Corp., an indirect wholly owned
subsidiary of Jones ("MSC"), has extended its $20.00 per share cash tender
offer for all of the outstanding shares of Class A Common Stock, together with
the associated preferred stock purchase rights, of Maxwell Shoe Company Inc.
("Maxwell") . The offer, which was scheduled to expire at 12:00 Midnight,
April 19, 2004, has been extended until 5:00 p.m., New York City time on
Monday, May 17, 2004, unless further extended.
As of 12:00 Midnight on April 18, 2004, Maxwell stockholders had tendered and
not withdrawn 236,834 shares pursuant to MSC's tender offer.
Jones Apparel Group, Inc. (http://www.jny.com/) is a leading designer and
marketer of branded apparel, footwear and accessories. Our nationally
recognized brands include Jones New York, Evan-Picone, Norton McNaughton,
Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo
Angiolini, Bandolino, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon and
Le Suit. We also market apparel under the Polo Jeans Company brand licensed
from Polo Ralph Lauren Corporation, costume jewelry under the Tommy Hilfiger
brand licensed from Tommy Hilfiger Licensing, Inc. and the Givenchy brand
licensed from Givenchy Corporation, and footwear and accessories under the
ESPRIT brand licensed from Esprit Europe, B.V. Celebrating more than 30 years
of service, we have built a reputation for excellence in product quality and
value and in operational execution.
IMPORTANT INFORMATION
Investors and security holders are urged to read the disclosure documents filed
with the Securities and Exchange Commission (the "SEC") on March 23, 2004 and
from time to time, including the tender offer statement, regarding the proposed
transaction between MSC and Maxwell. Investors and security holders may obtain
a free copy of the disclosure documents (when they are available) and other
documents filed by Jones or MSC with the SEC at the SEC's website at
http://www.sec.gov/. In addition, documents filed with the SEC by Jones or MSC
may be obtained free of charge from Jones by directing a request to Jones
Apparel Group, Inc., 250 Rittenhouse Circle, Keystone Park, Bristol,
Pennsylvania 19007, Attention: Chief Operating and Financial Officer.
Investors and security holders are also urged to read the consent solicitation
statement relating to the solicitation of consents of Maxwell stockholders when
it becomes available. Jones filed an amended preliminary consent solicitation
statement on April 9, 2004 with the SEC and will file a definitive consent
solicitation statement as soon as practicable thereafter. Investors and
security holders may obtain a free copy of the preliminary consent solicitation
statement, the definitive consent solicitation statement (when it is available)
and other documents filed by Jones or MSC with the SEC at the SEC's website at
http://www.sec.gov/. In addition, documents filed with the SEC by Jones or MSC
may be obtained free of charge from Jones by directing a request to Jones
Apparel Group, Inc., 250 Rittenhouse Circle, Keystone Park, Bristol,
Pennsylvania 19007, Attention: Chief Operating and Financial Officer.
CERTAIN INFORMATION CONCERNING PARTICIPANTS
Jones, MSC and, in each case, certain of its officers, directors and nominees
for the directorships of Maxwell, among others, may be deemed to be
participants in the solicitation of Maxwell's stockholders. The security
holders of Maxwell may obtain information regarding the names, affiliations and
interests of individuals who may be participants in the solicitation of
Maxwell's stockholders in the amended preliminary consent solicitation
statement filed by Jones with the SEC on Schedule 14A on April 9, 2004.
DATASOURCE: Jones Apparel Group, Inc.
CONTACT: Wesley R. Card, Chief Operating and Financial Officer, or
Anita Britt, Executive Vice President Finance, both of Jones Apparel Group,
+1-215-785-4000
Web site: http://www.jny.com/