Saks-Neiman Marcus acquisition deal clears key regulatory hurdle

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The sale of the Dallas retailer was announced last month in an agreement valued at $2.65 billion. Combination brings together two historic names in high-end...

The sale of the Dallas retailer was announced last month in an agreement valued at $2.65 billion. Combination brings together two historic names in high-end fashion.has passed a regulatory step as it looks to join HBC, the parent company of Saks Fifth Avenue. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has ended for the deal that’s valued at $2.

The expiration satisfies a closing condition for the deal. ”The transaction remains subject to other customary closing conditions,” HBC said in the statement. “Until closing, the companies will continue to operate separately.”, would create a bigger player in the high-fashion retail industry.

, where Herbert Marcus Sr., his sister, Carrie Marcus Neiman, and her husband, A.L. Neiman, opened their upscale store in 1907. It’s gone through a series of owners since it was first sold in 1969 as well as through bankruptcy in 2020 —. Brian is a business reporter specializing in retail for the Dallas Morning News. He earlier covered technology for the Dallas Business Journal after working at other news providers in California, Ohio and Idaho. He now resides in Frisco.

 

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