The Jones Apparel Group has raised its bid to take over the Maxwell Shoe Co. by 12.5% or $2.50 per share.

Originally, Jones, a New York apparel maker, bid $20 per share for Maxwell stock, or about $300 million. The new offer of $22.50 per share amounts to $333.9 million. With this new offer, Jones hopes to bring its three-month battle to acquire Maxwell to an end.  Originally, Jones offered about $300 million for Maxwell, which produces a branded shoe line under license from Jones. Maxwell rejected the offer saying it was too low. Maxwell stock has traded well above the Jones offer, which led to Maxwell repeatedly rejecting the offer.

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