JCP - Sources Say Amazon Might Be Interested in Acquiring J.C. Penney
As department store chain J.C. Penney (NYSE: JCP) begins dealing with the aftermath of declaring bankruptcy last weekend, sources have told Women's Wear Daily the troubled retailer may be in acquisition talks with Amazon.com (NASDAQ: AMZN) representatives. According to reports late yesterday, one source claimed, "there is an Amazon team in Plano as we speak," referring to the Texas city where J.C. Penney is headquartered.
An acquisition might be in the cards, with the same source stating, "There is a dialogue and I'm told it has a lot to do with Amazon eager to expand its apparel business — for sure."
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