Posted on Sunday, September 15th, 2013 at 4:03 pm.
A deal involving the sale of posh retail chain Neiman Marcus to a Los Angeles based hedge fund and a Canada Pension company is being finalized, according to a report by The Wall Street Journal on Sunday, September 8.
Although the negotiations between Neiman Marcus, asset manager Ares Management, and the Canada Pension Plan investment board could still bog down, the amount is still priced at a whopping $6 billion if it pushes through.
Dallas-based Neiman Marcus, which has 35 stores using the Last Call Brand,was sold for $5.1 billion by TPG Capital and Warburg Pincus in 2005. And in June, the large retail chain went public in its initial stock bid.
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