(Reuters) - Shares of U.S. fashion retailer J Crew Group Inc (JCG.N) jumped 16.9 percent before being halted on Tuesday, pushing above the price said being offered by private equity investors in a buyout bid.

On Monday, sources familiar with the deal said J Crew was close to an agreement to be acquired for $43.50 a share, or roughly $2.8 billion, by TPG Capital Group and Leonard Green & Partners.

The offer would represent a premium of just over 15 percent compared with Monday's closing share price of $37.65 for the upscale apparel retailer, which went public in 2006.

J Crew shares traded at $44.01 before the bell on Tuesday. J Crew would have a "go shop" window as part of the deal agreement during which the retailer could solicit better offers.

Also on Tuesday, children's apparel retailer Gymboree Corp(GYMB.O) announced the completion of its acquisition by Bain Capital for $1.8 billion.

"It appears that when private equity goes shopping for retail names, they are opting to pay a premium for quality as opposed to less of a premium for a fixer-upper," Wall street Strategies analyst Brian Sozzi said of the J Crew bid and Gymboree deal.

Barring any last-minute snags in the J Crew talks, an agreement could be announced as early as Tuesday when the retailer is expected to report its quarterly results, said the sources familiar with the deal, who declined to be named because the talks were not public.

Under the terms of the deal, TPG would own 75 percent of the company and Leonard Green would own the remaining 25 percent, one source said. J Crew's chairman and chief executive, Millard Drexler would also participate in the deal, one source said.

TPG is a former owner of J Crew, buying an 88 percent stake of the company for about $500 million in 1997.

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