Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal [Forbes]
Amazon.com, Inc. (AMZN)
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Source: Forbes
The deal was announced Monday. (Photo by Scott Olson/Getty Images) Getty Images Key Facts Saks Global announced the deal Monday, noting its brands will now include Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and off-price retailer Saks OFF 5TH. The agreement, which was first reported this summer, will provide Saks with 36 Neiman Marcus stores located in states such as California, Texas, Florida, Illinois and New York. The acquisition was financed through equity contributions from companies like Amazon, Salesforce and Authentic Brands Group (Reebok, Forever 21, Billabong). Bloomberg reported the deal was made to boost profitability and cut down on costs through improved bargaining power with vendors and the reduction of supply chain costs. Get Forbes Breaking News Text Alerts : We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text “Alerts” to (201) 335-0739 or sign up here. What To Watch For Amazon wil
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