Luxury Retailer Neiman Marcus Could Be Sold

Neiman Marcus is reported to be in a deal to be sold for $6 billion. Ares Management and the Canada Pension Plan Investment Board are the joint interested parties looking to make the deal, according to a report in The Wall Street Journal.

Copyright © 2013 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

STEVE INSKEEP, HOST:

NPR's business news starts with Neiman Marcus almost closing the sale.

(SOUNDBITE OF THEME MUSIC)

INSKEEP: The luxury retailer is said to be close to an agreement to sell itself - for $6 billion. The Wall Street Journal reports Ares Management and the Canada Pension Plan Investment Board are the joint interested parties looking to make the deal.

If this acquisition goes through it would be the second sale of a major upscale retailer in recent months. Saks Incorporated was bought for nearly $2.5 billion in July.

Copyright © 2013 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: