The Ultimate Neiman Marcus Sale

by Deidre Woollard (RSS feed)
May 2nd 2005 at 10:49AM

One of our favorite retailers, Neiman Marcus is close to agreeing to be taken over by two private firms in a $5 billion sale. The Neiman's board met over the weekend and final offers were submitted on Friday so a decision could come as soon as today. Although the luxury market has been booming lately, Neiman's high-income customer base is limited and there is a fear that continued expansion of the brand might dilute its power.

UPDATE: It's official, Texas Pacific Group and Warburg Pincus will purchase Neiman Marcus for $100 per share which works out to a tidy $5.1 billion.

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