Authentic Brands Could Join J.C. Penney Buyout

J.C. Penney (OTC: JCPN.Q) could have a third buyer riding to its rescue, participating in a buyout rather than allowing its bankruptcy to potentially continue to liquidation, according to a weekend report by Bloomberg. Privately held Authentic Brands Group is apparently joining Brookfield Property Partners (NASDAQ: BPY) and Simon Property Group (NYSE: SPG) in their $1.75 billion purchase of Penney, likely bringing its array of famous brands to the clothing chain's shelves if the deal goes through. According to details supplied by Business Insider, citing two anonymous sources close to the matter, Authentic is in "talks" with Brookfield and Simon, but may contribute its brand lineup rather than participating monetarily in the purchase of the retailer.