Neiman Marcus In Talks For $6 Billion Sale
DALLAS (CBSDFW.COM/AP) - 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.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- 30 Players: Semien Looks To Break Out With A’s
- Truck Crashes Into Fort Worth Business, Killing Woman
- Dallas DA Speaks At SMU, Briefly Addresses Difficult Week
- Texas Has Its Own Religious Freedom Law
- Haltom City Neighbors Upset Of Property Purchase By Televangelist
- Greyhound Passengers Complain Sick Rider Allowed To Stay On Bus
- Carroll ISD Opting Out Of Federal Lunch Program
- TCU College Freshman Is Just 11 Years Old
- Guyer High School Football Player Remembered
- City Of Fort Worth Demolished Wrong Home For A Second Time