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« Chalk Talk | Main | Becks' Film Debut »


March 17, 2005

For Sale: Neiman Marcus

Neiman Marcus Group has begun discussions with several suitors about buying the glitzy retailer for as much as $5 billion.

In the past few weeks, the company has approached several big retailers including Limited Brands, whose chain stores include Victoria's Secret, Express and Bath & Bodyworks, say people familiar with the situation. Meanwhile, Neiman Marcus has also been soliciting interest from a handful of cash-flush private equity firms including Apollo Advisors, Bain Capital, Thomas H. Lee Partners and Kohlberg Kravis Roberts & Co. regarding a deal to take the company private.

Also expected to take a look are European luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton and Pinault Printemps Redoute, the owner of the Gucci Group, as well as the Weston family, which controls Holt Renfrew in Canada and Britain's posh department-store chain Selfridges, sources added.

Neiman has retained Goldman Sachs to handle the sale process.


Posted by Lawren at March 17, 2005 06:32 AM

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