Talbots a step closer to owning J.Jill

Talbots announced Wednesday that the waiting period under federal antitrust law governing its proposed purchase of women’s retailer J Jill Group has expired and the deal is likely to close in early May.

The $517 million deal, scheduled to go before J.Jill shareholders on May 1, is the culmination of a definitive merger agreement signed between the two companies in early February.

Last week, Talbots announced plans to open 46 new J. Jill stores in 2006. The company also said it will continue to operate the two brands independently in merchandising, stores, catalog, Web, marketing and store design.

To date, Talbots has 1,083 stores throughout the United States, Canada and the United Kingdom and a catalog circulation of 48 million worldwide. – TRACIE STONE