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US: Stock leader Sacks weighs sale, Neiman Marcus merger eyed

By  |  May 24, 2013
US: Stock leader Sacks weighs sale, Neiman Marcus merger eyed

Stocks for Sacks Inc., already the most expensive of US department stores, surged this week in the wake of news that KKR & Co. is considering pumping in $2.3 billion in investments to the retailer. According to reports, Sacks may now be weighing its options for a sale as KKR also looks at a possible merger with rival Neiman Marcus Inc. According to experts at Citigroup, KKR may be looking to up its returns from Sacks through a tie-up with its rival instead of taking it private which Citigroup says will lead to a mere 9.5 percent return. Sacks stocks topped to its highest levels since 2008, say reports.

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