'Neiman Marcus In Talks To Merge With Luxury Archrival Saks Fifth Avenue' - NY Post
Portfolio Pulse from Happy Mohamed
Neiman Marcus is considering a merger with Saks Fifth Avenue, a move that would unite two major US luxury retailers. The potential deal comes as Neiman Marcus, owned by Davidson Kempner Capital Management, Sixth Street Partners, and PIMCO, struggles with a downturn in its business. The company could sell for over $2 billion, less than half of its 2005 valuation. Hudson's Bay, the owner of Saks Fifth Avenue, has begun due diligence to evaluate Neiman's business. The merger would likely face antitrust scrutiny.
August 28, 2023 | 2:15 pm
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POSITIVE IMPACT
Bank of America is representing Hudson's Bay in the potential merger between Neiman Marcus and Saks Fifth Avenue.
Bank of America's involvement in the potential merger could lead to increased revenue from advisory fees, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
JPMorgan is assisting Neiman Marcus in the sales process for a potential merger with Saks Fifth Avenue.
JPMorgan's involvement in the potential merger could lead to increased revenue from advisory fees, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Morgan Stanley is representing Hudson's Bay in the potential merger between Neiman Marcus and Saks Fifth Avenue.
Morgan Stanley's involvement in the potential merger could lead to increased revenue from advisory fees, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50