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

By  |  May 24, 2013

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.

Full Content: Bloomberg

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