Saks owner HBC acquiring Neiman Marcus for $2.65 billion to form Saks Global

From Investing.com: 2024-07-04 14:20:29

HBC is set to acquire Neiman Marcus in a $2.65 billion deal, forming Saks Global with other luxury assets. Neiman Marcus faced bankruptcy due to the pandemic. The new entity will compete with Nordstrom and Macy’s. Amazon and Salesforce will support the integration of AI. The deal is funded by shareholders and debt, with Apollo Global Management providing $1.15 billion. JPMorgan and Lazard advised Neiman Marcus.



Read more at Investing.com: Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal By Reuters