KKR & Co. L.P. is considering investing in Saks Inc (NYSE:SKS), but the investment management firm might push the management of the luxury retailer to enter a merger transaction with Neiman Marcus Group, according to a report from Cristina Alesci & David Welch of Bloomberg, citing unnamed sources familiar with the issue.
Bloomberg has also reported that Saks is said to hire Goldman Sachs to explore options. Posted in an article today by David Welch & Cotten Timberlake, Bloomberg reported, "Saks Inc. (SKS) hired Goldman Sachs Group Inc. to explore strategic alternatives, including a sale of the company, said two people with knowledge of the matter.
Neiman Marcus Group Inc., owned by TPG Capital and Warburg Pincus LLC, has apparently hired Credit Suisse Group AG earlier this month to explore an initial public offering or sale.
Interesting fashion news to say the least.
You are welcome to discuss this issue and other luxury fashion relevant issues in the luxury fashion group here on the Fashion Industry Network.
By the way, I hope my blog post about Bizarro World Welcomes Neiman Marcus does not have any negative effect on the potential merger...
If you are interested, you can learn more about Neiman Marcus and Saks at the Plus Dragon Fashion Scales if you have interest.
What do you think about this potential merger? Do you think it will take place?