Jones Apparel Group, Inc., has offered to buy the Maxwell Shoe Co. of Boston, MA for some $300 million. The offer was made by Jones because last year it acquired the AK Anne Klein clothing line, and Maxwell has the license from Jones to produce the AK Anne Klein footwear line. The acquisition of Maxwell would put the clothing and footwear lines under one ownership.

Additionally, the acquisition of Maxwell would complement the Nine West and other brands owned by Jones, offering Jones considerable cost reductions.

The $20 per share offer was 8.7% over the closing price of $18.40.

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