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Neiman Marcus could be for sale

  • Asset manager Ares Management based in Los Angeles and the Canada Pension Plan Investment Board could buy Luxury retailer Neiman Marcus for over $6B. 

    According to the WSJ, this has been reported by those familiar with the matter. The newspaper has also mentioned that even though both parties are trying to finalize the deal, it could still fall apart. 

    Representatives on both sides did not comment on these reports. 

    The luxury retailer had filed for an initial public offering of stock in the month of June. It had earlier been bought by TPG Capital and Warburg Pincus for $5.1B in 2005. 

    Tagged as: Neiman Marcus, Luxury retailer Neiman Marcus for sale, Money News, Business News