Category: 2.65billion
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Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal By Reuters
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(Reuters) – Saks Fifth Avenue parent HPC Inc said on Monday it will acquire department store chain Neiman Marcus Inc in a $2.65 billion deal, giving it stronger negotiating power with vendors and greater control over costs. The deal comes as luxury retailers face slowing demand as higher interest rates…