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Report: Neiman Marcus in talks for $6 billion sale

🕐 1 min read

 

Luxury retailer Neiman Marcus Inc. is reportedly in talks to be bought by Los Angeles-based asset manager Ares Management LLP and the Canada Pension Plan Investment Board for more than $6 billion.

That’s according to unidentified people familiar with the matter cited Sunday by The Wall Street Journal.

The newspaper said the parties were attempting to finalize a deal, although talks could still fall apart.

Representatives for Ares, Canada Pension Plan and Neiman Marcus did not return messages seeking comment.

Private equity firms TPG Capital and Warburg Pincus bought Neiman Marcus for $5.1 billion in 2005. The Dallas company filed for an initial public offering of stock in late June. Founded in 1907, it operates 41 Neiman Marcus stores and other shops including 35 stores under the Last Call brand.  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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