Mon September 9, 2013
Luxury Retailer Neiman Marcus Could Be Sold
Originally published on Mon September 9, 2013 6:25 am
STEVE INSKEEP, HOST:
NPR's business news starts with Neiman Marcus almost closing the sale.
(SOUNDBITE OF THEME MUSIC)
INSKEEP: The luxury retailer is said to be close to an agreement to sell itself - for $6 billion. The Wall Street Journal reports Ares Management and the Canada Pension Plan Investment Board are the joint interested parties looking to make the deal.
If this acquisition goes through it would be the second sale of a major upscale retailer in recent months. Saks Incorporated was bought for nearly $2.5 billion in July. Transcript provided by NPR, Copyright NPR.